Is this a potential blanket mortgage situation?

Deal Score0

My mother owns 3 properties. Single family owner occupied, two double rentals. The owner occupied unit has mortgage and equity line – no equity; as does one of the double rentals. The second double is owned free and clear. Owner is now on fixed income and facing some credit issues. Could a mortgage be obtained to obtain the lowest monthly payment using the third property to achieve a loan to value of 75%?

1 Comment
  1. Reply
    May 3, 2011 at 3:02 am

    Yes, but I seriously doubt that you will reach the 75% LTV level. That will depend on the appraisal value of the properties. The only way to find out is to apply to a bank for the loan. Be aware that you won’t get the lowest rate possible because these are investment properties and that the upfront expenses are relatively high.

    Leave a reply

    Register New Account
    Reset Password