Investor · Austin , TX · Member since 2015 · 37 posts · 5 votes
HI everyone
I am looking for a bank that i have good long relationship in investment near central Texas ( Lampass county, bell county, Williamson county, travis county)
Pleas let me know.
question: I approach a bank and they are asking to make my loan as adjustable rate. Pleas advice me regarding the adjustable rate vs fixed rate.
Real Estate Agent · Austin, TX · Member since 2016 · 111 posts · 64 votes
10y
I like Benchmark Mortgage in Cedar Park...but I guess it really depends on what you are looking for. Are you looking for investor loans on rental properties?
Ask for Sheri McKim or DiAnne Warlick and tell them I sent you. If neither of those have what you are looking for, PM me and I have a few other options.
Investor · Austin , TX · Member since 2015 · 37 posts · 5 votes
10y
thank you so much @Bryan Hancock and @Linda Osborn. I am looking for buy raw land that has no house on it. not all the banks are lending for a raw lands
Real Estate Agent · Austin, TX · Member since 2016 · 111 posts · 64 votes
10y
Okay, @Tarek Soliman, that is different. I'll check with my contacts and let you know. What is the ultimate use of the raw land? Do you buy it to build on, then sell with a house on it? Or some other use?
Investor · Round Rock, TX · Member since 2010 · 8k+ posts · 4k+ votes
10y
Banks generally won't loan at very high LTC on raw land. If you look at the OREO inventory of banks A LOT of it is land and the collateral is much harder to sell without a big discount.
I had a short bridge loan on a development project through First State Bank of Texas. Matt Sparkman did the loan. FSB is pretty conservative so we have moved away from them lately.
Commerce National Bank, SouthStar Bank, Trust Texas Bank, Affiliated Bank, and Grand Bank of Texas are all other lenders to check out. I would really start with RBank though.