Louisville Scattered Site Financing - Local Portfolio Lenders

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Louisville Scattered Site Financing - Local Portfolio Lenders

Patrick Lismon
Investor · Bowling Green, KY · Member since 2023 · 73 posts · 22 votes

Hey, Louisville investors -

I’m looking for recommendations for local community banks or credit unions that are friendly towards scattered-site multifamily.

I have a 10-unit portfolio under contract in Shively (40216). The numbers are solid (value-add play), but a few national lenders I spoke with are getting hung up on the 'scattered' aspect and want to treat it as 10 separate loans, which kills the efficiency.

Does anyone know a local lender in Jefferson County who will blanket a small portfolio like this?

Appreciate the help.

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  • Brian Cauldwell
    Lender · Springfield, MO · Member since 2023 · 109 posts · 78 votes
    8mo

    We do DSCR portfolio loans all the time, as long as the properties are the same property type (typically single-family homes up to 4 unit residential) and in the same city, there should not be an issue.

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    • Patrick Lismon
      OP
      Investor · Bowling Green, KY · Member since 2023 · 73 posts · 22 votes
      8mo

      Thanks, Brian.

      That fits the box perfectly. This is a 10-unit portfolio (all Townhome style) located entirely within Shively, KY (Louisville metro).

      Do you lend in Kentucky?

      What are your current indications for a blanket DSCR loan (LTV & Rate range) for a 720+ borrower?

      If the terms are competitive, I have a buyer looking to get this funded ASAP.

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    • Erik EstradaBusiness Member
      Lender · Member since 2022 · 6k+ posts · 1k+ votes
      8mo
      Quote from @Patrick Lismon:

      Thanks, Brian.

      That fits the box perfectly. This is a 10-unit portfolio (all Townhome style) located entirely within Shively, KY (Louisville metro).

      Do you lend in Kentucky?

      What are your current indications for a blanket DSCR loan (LTV & Rate range) for a 720+ borrower?

      If the terms are competitive, I have a buyer looking to get this funded ASAP.


      Is there an HOA on the townhomes? Are they all on separate parcels? If the values are at least $150k + each, and the DSCR is over 1.10, you should be able to get In the 6s with a DSCR portfolio loan.

      [email protected]818-269-7983
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  • Brian Cauldwell
    Lender · Springfield, MO · Member since 2023 · 109 posts · 78 votes
    8mo

    We do. I will send you a message. 

    0Reply
  • Chad Davis
    Lender · Richmond VA · Member since 2012 · 313 posts · 33 votes
    8mo

    @Patrick Lismon Portfolio loan seems possible. Let's connect.

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  • Patrick Lismon
    OP
    Investor · Bowling Green, KY · Member since 2023 · 73 posts · 22 votes
    8mo

    Thanks Erik — appreciate the insight. For this portfolio, we’re working exclusively with Louisville‑based lenders with a track record in scattered‑site townhome financing. The structure we’re pursuing requires familiarity with local underwriting, so we’re keeping the lender pool tight. If something changes, I’ll reach out.

    1Reply
  • Andrew Zamboroski
    Lender · Member since 2021 · 495 posts · 130 votes
    8mo
    Quote from @Patrick Lismon:

    Hey, Louisville investors -

    I’m looking for recommendations for local community banks or credit unions that are friendly towards scattered-site multifamily.

    I have a 10-unit portfolio under contract in Shively (40216). The numbers are solid (value-add play), but a few national lenders I spoke with are getting hung up on the 'scattered' aspect and want to treat it as 10 separate loans, which kills the efficiency.

    Does anyone know a local lender in Jefferson County who will blanket a small portfolio like this?

    Appreciate the help.


    A lot of great advice here! I agree a DSCR portfolio loan may be a great option for you here. It can help with costs and efficiency, just make sure you consider any partial release clause.

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