Finance up to 10 properties in Arizona!

How is it possible to have as many as 10 mortgages?

Many borrowers have been told by one or more banks that the maximum amount of homes allowed with mortgages on them is four. For many lenders, this is true.

Cardinal Financial offers financing for as many as 10 properties per borrower. Considering that each of the properties could be a 1-4 unit, that's quite a few units you could own as a real estate investor.

What are the limitations and how do I qualify? 

The limitations and qualifications are not very complicated for a seasoned investor to meet. They are as follows:

• No bankruptcy or foreclosure in the previous 7 years.
• No 30 day late payments on any mortgage in borrower's name.
• 6 months of asset reserves for each property.
• Must have at least 1 year landlord history (or extremely strong loan profile for an exception to this rule). 
• Income from other investment properties is only allowed if supported by 2 years of tax returns.

That's it. Very straight forward rules that many seasoned real estate investors will be able to meet. All other standard investment purchase guidelines will apply, so the down payment and credit score requirements are the same as any other investment home purchase.

You are always welcome to call or contact me anytime to see if you qualify for this program. 

Thanks for reading my blog!

Website: Scottsdale, AZ Mortgage Lender

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