Fairmount Funding Vs Visio lending

Pittsburgh, Pennsylvania
Private Lending & Conventional Mortgage Advice
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Fairmount Funding Vs Visio lending

Zach Gallagher
Member since 2023 · 8 posts · 5 votes

Hey guys, I came across Fairmount funding here on bigger pockets when looking at lenders. Looking at Visio lending at an option as well.

Visio seems more established and longer time in business. Fairmount is a newer entity which is a little concerning. Both guys are very nice and easy to talk to, quick to respond. Both companies seem to have better rates at the 75% LTV ratio.

We are trying to close on a triplex using a DSCR loan under our company. Verbal offer was all good, now we are working on the written offer. Need to get our preapproval and term sheets in order. Purchase price of 250k.

Thanks for any input!

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Nick BelskyBusiness Member
Residential and Commercial Broker · Member since 2021 · 1k+ posts · 704 votes
3y

@Zach Gallagher

Visio has a solid reputation and will end on collateral that others wouldn't even consider.  They get kudos for that, for sure.  In terms of vanilla transactions, they are ok and will close, but there are better, cheaper, faster options out there.  

No experience with Fairmount, but after a quick web search, they don't look any different than any other DSCR lender... which means they aren't special.

Are you working with a broker?  You will likely find far better pricing than what either of these two can offer elsewhere.

Cheers!

[email protected]
Belsky Mortgage, LLC527 Reviews
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  • Frank Ventresca
    Real Estate Broker · Boston, MA · Member since 2017 · 18 posts · 4 votes
    2y
    Quote from @Tia Ricketts:
    Quote from @Zach Gallagher:
    Quote from @Tia Ricketts:
    Quote from @Zach Gallagher:

    Thanks for all the help guys. Someone had contacted me through BP and I was able to work through them to secure the deal. We should be closing in 2 weeks!

    We ended up going with a broker at US Capital. They beat Visio's interest rate, so that was a good deal for us.

    If anyone is interested in their contact, please reach out and I can forward it!

    Hi Zach - can you send me your contact at US Capital? I’ve been hitting dead ends as far as finding funding options being an out of town investor in the Pittsburgh area. Thank you
    Hey Tia, message sent!
    ZACH! Thank you for the referral. Tom at US Capital is exceptional at what he does and was able to get me funded in under 8 weeks. 
    Recording this successful referral for anyone else who might be looking for funding 😊

    @Zach Gallagher @Tia Ricketts can you share your contact please i am in need

    0Reply
  • Tia Ricketts
    Member since 2022 · 27 posts · 7 votes
    2y
    Quote from @Frank Ventresca:
    Quote from @Tia Ricketts:
    Quote from @Zach Gallagher:
    Quote from @Tia Ricketts:
    Quote from @Zach Gallagher:

    Thanks for all the help guys. Someone had contacted me through BP and I was able to work through them to secure the deal. We should be closing in 2 weeks!

    We ended up going with a broker at US Capital. They beat Visio's interest rate, so that was a good deal for us.

    If anyone is interested in their contact, please reach out and I can forward it!

    Hi Zach - can you send me your contact at US Capital? I’ve been hitting dead ends as far as finding funding options being an out of town investor in the Pittsburgh area. Thank you
    Hey Tia, message sent!
    ZACH! Thank you for the referral. Tom at US Capital is exceptional at what he does and was able to get me funded in under 8 weeks. 
    Recording this successful referral for anyone else who might be looking for funding 😊

    @Zach Gallagher @Tia Ricketts can you share your contact please i am in need

    Sending PM with the requested details now!

    0Reply
  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    2y

    Visio is a solid lender. I have worked with them on a few transactions and they are one of the few DSCR lenders that have great terms without too much headache...

    [email protected]818-269-7983
    LuxePrivate Investments LLC 572 Reviews
    WebsiteView Page
    1Reply
  • Max Fisch
    Lender · Conshohocken, PA · Member since 2016 · 11 posts · 3 votes
    2y
    Quote from @Timothy Hero:

    8 weeks to close is hectic, lol. DSCR has slowed down ever since lenders cut staff from Covid and most didn't rehire. Many will advertise 3-4 week closings, but having closed nearly 250 DSCR loans in the last 36 months with many lenders, most are 5-6 week closings.


     Tim,

    I wanted to jump in.  Although I will admit the loan officer who Tom first spoke to could have communicated better.  We do not lend on STRs and we routinely refer folks to Mark at Visio.  As recently as a few weeks ago actually.  We, like most others close in 30 days give or take.  And it's always the same deal - title, appraisal, and borrower docs.  

    I hate to call people out but the gentleman above refused to provide adequate insurance coverage and insisted on pounding on my processor until she broke down and cried one late afternoon.  When I was put on a group text and received texts at 1030pm when the hang up was not on our team, but the insurance.  In the end the deals closed and yes we sold the loans.

    It's impossible to please everyone but we do try to admit when we make a mistake.  Luckily for everyone that loan officer is no longer here.  We are a small shop in the Philly market and we try to stay in our lane.  Thank you 

    0Reply
  • Ziad Hamati
    Lender · Houston · Member since 2019 · 74 posts · 29 votes
    2y
    Quote from @Zach Gallagher:

    Hey guys, I came across Fairmount funding here on bigger pockets when looking at lenders. Looking at Visio lending at an option as well.

    Visio seems more established and longer time in business. Fairmount is a newer entity which is a little concerning. Both guys are very nice and easy to talk to, quick to respond. Both companies seem to have better rates at the 75% LTV ratio.

    We are trying to close on a triplex using a DSCR loan under our company. Verbal offer was all good, now we are working on the written offer. Need to get our preapproval and term sheets in order. Purchase price of 250k.

    Thanks for any input!


     I am a broker. You can send me the worksheet or LE they provided and I can tell you if it is a good deal or not. I could even beat.

    0Reply
  • Natasha Nyirongo
    Member since 2025 · 1 post · 0 votes
    4mo

    Hi Zach, would you kindly share your contact for US Capital? 

    0Reply
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