You would be surprised to find out how many people use private blanket loans which are commonly referred to as blanket mortgages to finance the purchase of their multiple properties. Blanket mortgages are lauded for their ability to provide potential buyers with the financial resources to cover the costs associated with purchasing or developing land. If you are not certain about how having this type of mortgage can be beneficial to a homeowner, this article aims to shed some light on what the advantages of private blanket loans are.
Save on Closing Costs
Taking the option to refinance your loans to just a single blanket mortgage saves on closing costs and your monthly repayments. Instead of paying separate interest rates, you can compound your rates for one mortgage. Continue reading