Lenders for rental properties? Programs?

[Steven Lemma]

Looking to put 300k cash to work and buy some rentals in Oregon. I have 715 mid score. What banks/lenders are good in rental lending ? Any recommendations? Thanks!

[Scott Radetich]

For your first 4 properties you get the best terms. I recently refi'd a few of my properties and used an online company called Consumer Direct. They had the best rates and very reasonable closing costs. I'm in the middle of trying to buy a few properties now that will put me over 4 and push my DTI above certain lending guidelines (a few units aren't rented, so no history = no income). I had to look around, I found Security National, their rates are a little higher than Consumer Direct, but they will take into account the market rent (75% of it) and add that to my income on the non occupied units. Another company I've used locally Key Bank, they are pretty flexible and I think they go up to 6 properties (but it could be 4). They let you put down 10% for primary btw.

Good luck!