Investor Friendly Banking/ Loan Information in Cleveland Ohio.

Investor Friendly Banking/ Loan Information in Cleveland Ohio.

Member since 2018 · 5 posts · 0 votes

Hello  everyone,

Which banks, in the Cleveland Ohio area,  are investor friendly and are more willing to provide investors loans ?

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Investor-friendly agents in Cleveland, OH

See the agents BiggerPockets members work with in Cleveland, OH.

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  • Lender · Mokena, IL · Member since 2014 · 1k+ posts · 261 votes
    8y

    Hello Carlos,

    Are buying turn-key properties or do they require rehab?

  • Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
    8y
    Originally posted by @Carlos Louis:

    Hello  everyone,

    Which banks, in the Cleveland Ohio area,  are investor friendly and are more willing to provide investors loans ?

     MB Financial is a pretty decent investor lender as they have very low investment minimums. Most all lenders will have similar investor terms. Typically 30 years fixed interest with 25% down. However a big hurdle here in Cleveland are loan minimums. Some lenders don't like writing loans for under $75,000. I like this company due to the fact that they will go as low as $25,000 which is helpful considering how cheap the real estate is out here in Cleveland.

    As for specific contacts at the company I don't have any and they are hit or miss. Have dealt with good loan officers there as well as terrible loan officers.

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