Portfolio Loan possible?

[Marc S.]

Hello,

I am currently in the process of putting an offer in on a SFR in Celina, TX. Are there any banks out there I can get a portfolio loan on to negotiate a better rate than going through a bank using Fanny / Freddy?

[Doug Smith]

Will this be owner occupied or investment? Fannie/Freddie will usually have a better rate than a portfolio bank loan. Fannie/Freddie Lenders watch the 10-year Treasury...which yesterday hit its highest mark in more than a decade, but the Federal Reserve has jacked up the Fed Funds rate in the past few months faster than banks "stress test" for. Banks already are not build for real estate investors, but right now they are running from them...and some even from loans all together. Banks are designed to boost local business lending, but they are not build for longer-term holds of more than 5 years. That is why Fannie and Freddie where created...to provide liquidity and stability to the housing market. Even with much higher rates, unless there is something I don't know about your situation, you're still likely to have more success with Fannie/Freddie...or even a non-QM loan, than you are with a bank portfolio type of loan. Let me know if you have any more specific questions. I'm happy to answer them.