Can anyone suggest a lender/bank that is good at residental construction loans? i am a Mortgage Banker having a hard time finding a Interim loan lender.
Harold W. replied:
..contact Jimmy Reed at jimmy@jimmyvreed.com or John at zarrella@aol.comccarriger@sbcglobal.netgreg@ridglea.com
Kathy G. replied:
Frost Bank or Prime Lending is also a good source.
Anyone have recomendation for a small community bank in DFW that works with investors (lines of credit, portfolio loans...etc) Currently own 30 doors, but maxed out with...
Adam W. replied:
We are releasing a hard money program that will roll you directly into a long term portfolio product free of charge. No other hard money lender can do that. Game changer. Awilliams@longhorninvestments.com
Zach C. replied:
Frost can be hard to deal with on single family. Their underwriting is difficult. Simple things like requiring a full appraisal (interrupting and scheduling appraiser to get inside with tenants) instead of a simple drive by BPO. Happy state bank Southwest bank Both do a lot of work with local investors
Waylon T. replied:
Hey Chad Walsworth I'd love the opportunity to work with you. I handle commercial lending for a small bank based out of Lubbock. Wthemer@citybanktexas.com469-474-9089Www.citybankonline.com
Which companies are best for hard money or private money loans for a Rehab project in Dallas? The purchase price is around $400K. I haven't used other people's money...
Andrew S. replied:
Magin Mason
Gregory J. replied:
Horizonlenders.com
Crystal S. replied:
wildcatlending.com ask for Kai Chandler. They are upfront honest and transparent along with reasonable. The owners are both investors as well so they understand the ins and outs of your projects. Also Kelly Smith of Streamline Funding they have reasonable rates as well.
Kelly S. replied:
Thanks Crystal! I'm happy to chat more about your project, Stacy. We have rates starting at 11.99 for 2 points. We will leverage up to 95% of the costs so long as at or below 70% ARV. You're welcome to call and speak with me or my team (214) 613-4188 or email me details ksmith@streamlinefunding.com . Our processing fee is only $250 - paid at closing.
I need some one who does long term asset based loans. I have an Investor in my inner circle ready to go!
Marco B. replied:
I can offer a 5 yr balloon am over 30. In some case 7 yr. True asset based, no min fico no doc loan. If you want longer term fixed i have some 30 yr products w/ approval based on cash flow 650 min fico. marco@entrustequityfunding.com
Magin S. replied:
We have 30 year amortized loan based on the Debt service coverage ratio. We do require a min credit score. You can email me for more information at magin.mason@shermanbridge.com.
Does anyone have a contact who does land only loans? I have a client that would like to purchase a few acres and hold for 3-5 years. TIA!!
Melissa P. replied:
Melissa Mitchell, Legend Bank, 940.626.3412 direct, 800.873.5604 main, Melissa.mitchell@legendbank.com My clients just used them in December, fabulous job and they got a 5 year term with a not horrible interest rate
Any recommendations for a local Texas bank that does 30-year non-owner-occupied loans at a decent rate?
Gracie M. replied:
Gabriel G. Gibson, we work with many real estate investors. My company is a local bank and we provide 30 yr financing for 1-4 unit investment properties;) Gracie@GMMG-MTG.com
I am looking for a broker or community bank who is aggressive in doing non-conforming loans for single family homes as investment properties. Please inbox me with...
Steve G. replied:
By non-confirming loan...that typically means means one or more of the following items: the borrower has bad credit, too much debt, a lack of income OR the property does not have much equity. I don't think most local banks will even loan on those scenarios. I would talk to a hard money lender - here are several local banks & hard money lenders on my website - http://stevenbuyshomes.com/preferredvendors.html
We have several properties in our rental portfolio. I am looking for a lender that can do a cash out refinance loan packaging all the properties together. Who do you...