jumbo loan for investment property 4plex

[Leland S.]

I'd like to find a direct lender as to avoid the crazy broker fee's I'm seeing of 3%. Please refer me to someone that can lend on the following:

1) Refi 1.6M. If possible, add some cash, LTV of ~50%
2) Income projected 25k/mo average (mixed long/short term)
3) LLC owned currently - but I'd be OK not doing that if that's what it takes. Credit score 780+.
4) Property is 4-plex townhomes but zoned as a single parcel. 

[Stephanie P.]

Quote from @Leland S.:

I'd like to find a direct lender as to avoid the crazy broker fee's I'm seeing of 3%. Please refer me to someone that can lend on the following:

1) Refi 1.6M. If possible, add some cash, LTV of ~50%
2) Income projected 25k/mo average (mixed long/short term)
3) LLC owned currently - but I'd be OK not doing that if that's what it takes. Credit score 780+.
4) Property is 4-plex townhomes but zoned as a single parcel. 

Reality is regardless whether it's a broker or a lender, you're going to pay fees.  Some will wrap it up in your rate with lender paid comp and others will make them buyer paid, but either way, no one is doing these loans for free.

If your goal is to maximize cash out, one way to not have to have the points come out of pocket is to finance them and at that loan to value, it would work.  

Having said all that, 3 points is a bit much at that loan amount (unless one is a discount point).  2 is more normal for origination these days.

All the best

Stephanie