News and Tips
Clients buying a Primary Home using a Conforming loan can have up to 10 financed properties including the new purchase. Most people think the maximum is 4 financed properties when the subject is a Second Home or Investment Property.
Cunningham & Company Mortgage has a 5-10 Financed Property Program for individuals buying a residential Second Home or Investment Property. Some of this program’s special guidelines over and above the usual Conforming guidelines are:
*Maximum 75% Loan to Value on purchases, 70% Loan to Value on refinances
*Minimum 720 credit score
*Extremely clean credit – no bankruptcy, foreclosure, mortgage late payments or other derogatory history
*6 months reserves for each financed property including the new purchase
Charlotte Mortgage, Investment Property financing, maximum financed properties, mortgage, Second Home financing