Can a loan be made against multiple real estate that is paid for???

I would definitely need more information, but blanket loans are possible.Sharon

YES, and NO. Your standard loans like Fannie Mae, Freddie Mac, and FHA do not allow that. But non-conforming loans are possible that will allow that situation. Generally you will pay higher rates, and have shorter terms. But I suggest looking at standard loans first. You can finance up to 10 properties with traditional conforming loans.

This is a very complicated situation as you probably already know. Fannie Mae (conventional residential financing) guidelines allows individuals to finance up to 10 properties for investment purposes. (If your primary is financed then technically 9 properties as your primary would count as one) with that said, most lenders won't individually lend on more than 4 properties to limit their individual risk as Fannie is not a guaranteed loan like FHA or VA. If you are looking for a limited amount of money out, then perhaps 4 properties will be enough. Feel free to reach out to me for any assistance otherwise look at commercial financing.

Yes, but it will not be a standard residential mortgage. The lender will have to hold that loan on their books, probably as a commercial or personal loan. Check with local community banks, they are most likely to offer what you are looking for. Good luck!

It depends on your ultimate goals.. typically, you cannot use conforming financing and secure it with more than one property. If you default, which one do they foreclose on, one or the other or both? However, portfolio lenders or hard money lenders will do these types of blanket loans, but expect a higher interest rate, higher fees and shorter terms.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com