Multi family lender resources in Cincinnati, Ohio?

Question

If you haven't seen my other posts, basically, I'm new to the Cincinnati market and I'm starting from ground zero with real estate contacts here. I'm looking at some potential deals, and I'd like to have some good lender resources lined up to shop it to quickly when the time comes.

What lenders have you used and been impressed with?

Todd Dexheimer · Answer

Hogan Financial is a good mortgage broker

Paul Gwilliam · Answer

Thanks y'all!  I'll call them up.

Craig H. · Answer

My father has been a commercial lender for 30+ years.  Park National Bank in Cincinnati.  I will shoot you a message with contact information.

Joseph Cornwell · Answer

@Paul Gwilliam

This would be very dependent on your financials, if you are a very typical W-2 borrower who can put 20-25% down, with strong credit, and can personally guarantee the loan, you could use any local or national lender, other than shopping rates you will get the same product. I personally use, American Savings Bank here in Cincinnati for my mortgages, and I have closed countless deals with them for my clients. However, if you need more specialized financing Valley Central Bank has portfolio options that have less overlays than typical Commercial or Residential loans. I have several investor friends who have used them for their projects. Another option if you are a typical borrower is going straight to Freddie Mac for small MF loans, you can apply on their website, but of course you must meet every overlay of the secondary mortgage market. Any Commercial Lender is going to want to qualify the actual deal first, that is as important if not more important than you as a borrower, unlike residential where if it appraises they will give you the loan, (assuming you qualify). If you have any more questions feel free to send me a message, good luck!

Joe

Paul Gwilliam · Answer

Multi family indeed.  I'm looking between 10 and 20 units.  Several properties...

Todd Dexheimer · Answer

What property type? If multi-family, how many units?

Multi family lender resources in Cincinnati, Ohio?

Most Popular Reply