Refinancing lenders (non traditional banks)

[Scott Michael Gross]

Hi All!

My partners and I are relatively new in the game. We were undergoing our first BRRRR in the Pittsburgh area and were in the process with Civic financial services but they just paused new loans so we need to find a new partner. We were excited because they were offering us a non-recourse loan on a five year interest only that would convert into 25 year ARM, without needing wet signatures. Long shot but does anyone know of other lenders that can offer us these terms?

Thanks for all the help this community gives us!

[Robin Simon]

Quote from @Scott Michael Gross:

Hi All!

My partners and I are relatively new in the game. We were undergoing our first BRRRR in the Pittsburgh area and were in the process with Civic financial services but they just paused new loans so we need to find a new partner. We were excited because they were offering us a non-recourse loan on a five year interest only that would convert into 25 year ARM, without needing wet signatures. Long shot but does anyone know of other lenders that can offer us these terms?

Thanks for all the help this community gives us!

Civic had a somewhat unique product in the market - but you should try your hand with a traditional DSCR lender that will do something similar - 30-year term, 10-years interest only and fixed for 5 years then floating ARM