I am looking for a lender who'll do  a blanket loan for 10 single family homes in OH.  All are currently rented and bringing in over $6k per month in rent.  Price is $459k but worth $670-$700k.  

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We have hard money and blanket loans (cross collateralized commercial loans) available nationwide for experienced investors like yourself.

The hard money for fix and flips is at standard hard money rates but they have a very quick closing process for experienced investors.

The blanket loans have the following rate and terms:

  • Average rate 6.5%
  • 2 points origination
  • normally close in 45 days
  • 5 and 10 year fixed rate
  • Up to 30 year amortizations
  • Up to 75% Loan To Value
  • Up to a 1.20x Debt Service Coverage Ratio (DSCR)
  • Recourse and Nonrecourse
  • Minimum 5 properties
  • Minimum loan amount $500k
  • Consolidate all rental units in one loan: SFR, 2-4 family units, condos, townhomes, multifamily and mixed Use Commercial Properties

 

Please let me know if I can be of assistance.

 

Sincerely,

Mike Austin

 

Rock Castle Funding

mike@rockcastlegroup.com

office 336-306-5944

mobile 336-813-3457

www.rockcastlegroup.com

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