Recommendations on Lenders in Wisconsin

6 Replies

Hi All,

I am a relatively new investor in Madison, WI. I purchased a 4 unit building last year through conventional financing at 25% down through a local bank (Park Bank). I am looking to buy another (likely owner occupied) 4 unit building . I am beginning to understand not all lenders are made equal. It seems like the way to go from reading posts on BP is to do a FHA loan if I am willing to owner occupy. Just calling around I had a hard time tracking down a lender that was familiar with doing a FHA loan on a 4 unit in the area. I am willing to go the conventional financing route as well but the 25% down payment puts most 4 units out of my immediate grasp without getting creative.

My questions:

1) Does anyone know good lenders in Madison, WI (or surrounding areas) for FHA loans on 4 units?

or

2) Does anyone know good lenders in Madison, WI (or surrounding areas) that give lower that 25% down payment for conventional financing in the area for owner occupied 4 units?

Thank you for your help with this,

-Hussain

Hussain Harun Shawn Huss @ Talmer Bank and Trust. He's investor friendly. Can do loans less than 50k and able to do then nationwide. He's the man!

We are in Madison and have all our loans (for SFH and duplexes- conventional loans, started out with 20% down) through Johnson Bank in Madison. We probably have about 50% equity in these places now. Talk to Margaret at the downtown office. She's very knowledgeable. Johnson bank is local and doesn't ever sell the loans to the monster banks. To us, that is PRICELESS.

Not sure if the policies change for 4-units. If they do, she'd be a good one to explain the logic.

Hello Hussain,

I'm a investor and commercial lender in Madison with 1st National Bank in Waunakee. We don't do FHA loans at our Bank but I would recommend Joe Long at Waterstone Mortgage. He is also an investor and very knowledgeable about the FHA programs.

We do finance investment properties on our commercial side of the bank. We typically look for 20% down on 3 to 5 year balloon notes. Where we differentiate ourselves from other banks is by accepting owner financing at part of the 20% down payment. We also allow you to finance your properties in an LLC instead of personally. If you every would like to chat more, please feel free to send me a personal message.

Originally posted by @Nicholas Vandervelde :

Hello Hussain,

I'm a investor and commercial lender in Madison with 1st National Bank in Waunakee. We don't do FHA loans at our Bank but I would recommend Joe Long at Waterstone Mortgage. He is also an investor and very knowledgeable about the FHA programs.

We do finance investment properties on our commercial side of the bank. We typically look for 20% down on 3 to 5 year balloon notes. Where we differentiate ourselves from other banks is by accepting owner financing at part of the 20% down payment. We also allow you to finance your properties in an LLC instead of personally. If you every would like to chat more, please feel free to send me a personal message.

@Nicholas Vandervelde

Hi Nicholas,

I'm interested in connecting in regards to commercial lending to an LLC. What is the best way to contact you? We are looking for multi-families in the greater Madison area, but would like to finance through an already established LLC.

Thanks,

Brandon