Why do Investors Consider a Blanket Loan for their Properties?

 

Blanket Loans

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A blanket loan has a couple advantages for investors.  The first advantage is the blanket loan program allows investors to roll several properties into one loan so that they have one mortgage. Many of my investors that managing one mortgage is considerably easier to handle.  Another reason investors like the blanket loan program is that if they own 10+ properties they find the blanket loan has lower rates.  Typically 10+ financed properties have rates in the double digits. The blanket loan rates typically start around 5.75% to 6.75% depending on the program. Lastly investors consider the blanket loan because many blanket lenders allow you to form an S Corp. for the properties in the blanket loan.  These investors are than allowed to purchase new properties under Fannie Mae and Freddie Mac residential loan program.

The blanket loan has come a long way from prior to 2008.  The blanket loans of the past had to have the properties within a short distance from one another.  Today investors can have properties that are located all over the country. I have several deals in my pipeline right now where my clients have 20+ properties all over the country. The goal for these investors have ranged from pulling out cash, to lowering their rate, to just wanting to have one mortgage payment.  Below are the criteria for a blanket loan.

 

Give me a CALL TODAY  at 512-650-8630    

 

  • Types of Transactions are Purchase, refinance and cash out
  • Types of Properties: condos, single family residence, duplexes, apartments
  • Location of the properties can be spread out between different states
  • Loan to value goes up to 75% LTV.
 

Give me a CALL TODAY  at 512-650-8630   

 

  • Minimum loan amount is $500,000 up to $50MM.
  • Minimums: value of each property is $50K and 750 sq ft.
  • Non Recourse is allowed on loan amounts around $3MM+

 

Give me a CALL TODAY  at 512-650-8630   

 

  • Foreign Nationals Allowed
  • Minimum Number of Units is 5
  • Must be leased up 90%
  • Terms are 5 or10 year balloon
  • Amortization 30 years

Wishing You the Best,

Karen Schimpf
Commercial Capital, Ltd.
p: 512-650-8630
c: 512-354-5949
P.S. When the Bank Says No, Come to Us to Get Your Deal Closed.  I specialize in SBA and Alternative Commercial Loans.  I help entrepreneurs attain financing for their business or project. I BRING MONEY FROM AROUND THE COUNTRY TO LOCAL MARKETPLACES INSURING THE MOST LIKELIHOOD OF CLOSING. The key is placing the borrower with the lender that most suits that borrower’s strengths. I do it better than anyone.  Give me a call today at O:512-650-8630 or C:512-354-5949 to get your loan closed.
Give me a call today to discuss your deal at 512-650-8630

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Commercial Capital LTD

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Author: admin

Here’s A Little Bit About Me. 20+ years in the finance industry, I rose to the level of Assistant V.P. with Chase Manhattan. While working for Chase, I decided that I wanted to have residual income without having to quit my job. I bought my first apartment building in 1996, three days before my wedding. In 2001, I decided I would leave the corporate world and work for myself in a net branch environment. My passions are helping people get commercial mortgage loans. I also am passionate about investing, working out and being with my family and friends.