Financing Question
What is the quickest and easiest way to get money out of a completed project on a property that has a free title and is totally remodeld but has not been seasoned for 6 months.
Also, how does a HELOC work owning with many properties?
I thought of an HML but its not that big of emergency I just need one with no seasoning. I guess how about many loans in my name?
How many loans you can have in your name will depend on your debt-to-income ratio and your credit score.
There is a point at which lending institutions feel you have too many loans on the books.
Quote:
On 2006-03-24 10:39, carlobatts wrote:
I guess how about many loans in my name?
As long as your income is good the first road block is 10. After that you have to use lenders who do not follow Fannie mae guidelines. Then it is fairly easy to get to around 20 or 25. It a lot harder after that.