Portfolio Lenders in New Mexico
4 Replies
Natalie D.
Rental Property Investor from Albuquerque, NM
posted about 1 year ago
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.
Dustin Lauer
Lender from Orlando, FL
replied about 1 year ago
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.
Jens Nielsen
Investor from Santa Fe, NM
replied about 1 year ago
Nice to meet you @Natalie D. . I have had luck working with WaFd Bank for my multi family properties. They may be able to do what you are looking for. Rates are pretty good now.
Joe Anderson
Investor from Salida, CO
replied about 1 year ago
I have had good luck with Sandia Area Credit ( Gabriel Fernandez).
George Despotopoulos
Lender from New York, NY
replied 12 months ago
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).