What lenders, if any, are still doing refinances for people with multiple properties.  Client has a primary and 7 investment properites.  The last lender i knew that would do this is Amtrust but they will no longer refi anyone with more then 4 financed properties.

Thanks in advance.

Wow  Victor, that is a really tough one right now. The only 2 I know of are Emigrant and Eastern Savings. They are going to cap it @ 75 ltv and the rates aren't pretty. Is the subject property owner occ or investment?

Vic,

I don't know if they are in TX, but Washington Federal Savings doesn't have a max # of properties owned. They simply require that the property in question cashflow. 75% max ltv.

I would be interested in finding other lenders though as this is one of the hardest hit area's of my business.

TH

I haven't run into this lately, but Countrywide might be able to do the primary.  Last I heard from them, when I was looking at it, you could have 10 properties and they would still write on the primary.  Worth a call at least.

Vic - Worst case, we may be able to do it here at North American Savings Bank.  We have a Portfolio program and the bank president may take that.  Let me know if you have no other luck.  He looks for solid incomes, lower LTVs, and good reserve capacity.

ING can do it, provided it is either his prim. res. or his 2nd home.  They don't have a limit on # of properties owned.

Union Bank of CA, but no help for you in Texas.  My rep at Stearns may have said that they will do it.  I know there is talk of getting that guideline changed with FannieMae.

Thanks everyone for your help.  Unfortunately ING will not do refis in Texas, which makes no sense to me since we have about the most stable home prices in the country. 

Also, these properties all appear to be between 80 to 90 ltv, so that eliminates the other lenders.  I will try countrywide as it is worth a call. 

Vic,

Amtrust does it under their portfolio 5/1 libor arm. Rates are 10% par, minus hits... they allow up to 4 loans on Amtrust's dime or 1mm. Good thing about it is I/O is only .25% hit to yield. I have CTC on 3 NOO and borrower has 7 total financed. 45% back end max. Good luck.