Portfolio Lenders in New Mexico

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Anyone have any good Recommendations on portfolio lenders? Looking to put my current properties that I have on investment style loans and RECS and move them to a portfolio loan. Seems like local is best but also seeing that smaller National banks can at times be a good option as well. I invest and live in Albuquerque New Mexico.

I would not have guessed local in NM. What rates have you seen? I would think in the 5s for portfolio loans up to 80% LTV with high enough DSCR.

P.S. I really like Albuquerque.  Wife and I were surprised by all the great food and AirBnBs when traveling for work.

Hey @Natalie D. -- in additional to smaller banks, there are lenders that provide 30 yr term loans based on the property's (or portfolio's) cash-flow (DSCR). Rates will range from 5% - 6.5% generally for a 30 yr fixed. The benefit in working with a lender like that is that you can invest through an LLC, the rate is still competitive, fees are not high, and it's a 30 yr term (and not a 20-25 yr).

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