Looking for a DIRECT Freddie/Fannie lender for Tennessee

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Looking for a DIRECT Freddie/Fannie lender for Tennessee

Terrence Branley
Investor · Huntington Beach, CA · Member since 2016 · 26 posts · 17 votes

Can anyone recommend a Fannie/Freddie, direct lender who offers the Multiple Financed Properties Program without overlays?  

I need to re-finance multiple SFRs in Memphis, TN.  

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AJ Singh
Rental Property Investor · Orange County, CA · Member since 2016 · 512 posts · 374 votes
9y

@Douglas Skipworth

@Terrence Branley

i should have mentioned that i already have ten income property loans so was searching for a lender. Evolve bank started the application for our five home package deal and three weeks later, i was informed that loan cannot proceed forward due to debt income ratio. since i am self employed, their credit analyst did not even analyse our tax returns properly. we have enough cash flow every month to serve the mortgage and have reserves for capex and vacancies.. 

Also two more referalls for lending said they dont lend to out of state investors.

Steve Bighaus is available to fund upto ten cheap loans and after that our choice is portfolio lending where we have another criteria of each property to be at least 75k or 100k in value

@Terence Branley, Please PM me if you have to finance more than ten loans. i can share some insight.

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  • Douglas SkipworthBusiness Member
    Rental Property Investor · Memphis, TN · Member since 2014 · 1k+ posts · 1k+ votes
    9y

    Hi, @Terrence Branley.

    You should reach out to Tim Atchley at Evolve Bank.  He's your guy.

    Investor's Guide to Memphis Real Estate
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  • Terrence Branley
    OP
    Investor · Huntington Beach, CA · Member since 2016 · 26 posts · 17 votes
    9y

    @Douglas Skipworth - Thanks for the rec Doug!  I'll touch base w Tim.

    0Reply
  • AJ Singh
    Rental Property Investor · Orange County, CA · Member since 2016 · 512 posts · 374 votes
    9y

    @Terrence Branley

    Evolve bank only offer fifteen year amortization loans. they are extremely hesitant to loan out of state investors. 

    0Reply
  • Terrence Branley
    OP
    Investor · Huntington Beach, CA · Member since 2016 · 26 posts · 17 votes
    9y

    @AJ Singh - Thanks for the info AJ.  15 year amort is no help.   I am going out to Memphis in a few weeks and hoping some in-person visits to a few banks/lenders may help.  

    0Reply
  • Douglas SkipworthBusiness Member
    Rental Property Investor · Memphis, TN · Member since 2014 · 1k+ posts · 1k+ votes
    9y

    @AJ Singh,

    Were you dealing with the Bank or Mortgage side?  I know Tim is on the mortgage side and offers 30-year Fannie deals.

    Investor's Guide to Memphis Real Estate
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  • Douglas SkipworthBusiness Member
    Rental Property Investor · Memphis, TN · Member since 2014 · 1k+ posts · 1k+ votes
    9y

    @Terrence Branley,

    Have you talked with Steve Bighaus of Security National?  He's very active here, too.

    Investor's Guide to Memphis Real Estate
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  • Terrence Branley
    OP
    Investor · Huntington Beach, CA · Member since 2016 · 26 posts · 17 votes
    9y

    @Douglas Skipworth - He has been non-responsive.  He recently moved to a new lender (Guaranteed Rate), so could be due to that, the holidays or both.  

    0Reply
  • AJ Singh
    Rental Property Investor · Orange County, CA · Member since 2016 · 512 posts · 374 votes
    9y

    @Douglas Skipworth

    @Terrence Branley

    i should have mentioned that i already have ten income property loans so was searching for a lender. Evolve bank started the application for our five home package deal and three weeks later, i was informed that loan cannot proceed forward due to debt income ratio. since i am self employed, their credit analyst did not even analyse our tax returns properly. we have enough cash flow every month to serve the mortgage and have reserves for capex and vacancies.. 

    Also two more referalls for lending said they dont lend to out of state investors.

    Steve Bighaus is available to fund upto ten cheap loans and after that our choice is portfolio lending where we have another criteria of each property to be at least 75k or 100k in value

    @Terence Branley, Please PM me if you have to finance more than ten loans. i can share some insight.

    1Reply
  • Douglas SkipworthBusiness Member
    Rental Property Investor · Memphis, TN · Member since 2014 · 1k+ posts · 1k+ votes
    9y

    Hi, @Terrence Branley and @AJ Singh.

    I might have misunderstood, but I thought Terrance was looking for money for the 1-10 houses, which is why I mentioned Tim or Steve.

    By the way, I just called Steve and he said to give you his cell # which is 206 - nine three zero - 1801.

    Investor's Guide to Memphis Real Estate
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  • AJ Singh
    Rental Property Investor · Orange County, CA · Member since 2016 · 512 posts · 374 votes
    9y

    @Douglas Skipworth

    i thought he mentioned multiple SFRs. Steve can definitely take care of him upto ten loans

    BTW thanks again for State Farm Rhett Parker Insurance referral. i have saved a bundle compared to nationwide.

    1Reply
  • James WachobBusiness Member
    Real Estate Broker · Memphis, TN · Member since 2015 · 1k+ posts · 887 votes
    9y

    @Terrence Branley I'd be happy to introduce you to some of my local contacts. 

    0Reply
  • Terrence Branley
    OP
    Investor · Huntington Beach, CA · Member since 2016 · 26 posts · 17 votes
    9y

    @Douglas Skipworth - Thanks Doug!

    @James Wachob - Will shoot you PM now.  Thx!

    @AJ Singh - PM on the way.  Thx!

    Thanks guys!

    2Reply
  • Terrence Branley
    OP
    Investor · Huntington Beach, CA · Member since 2016 · 26 posts · 17 votes
    9y

    Still looking for a Fannie/Freddie or portfolio lender who can do 8-10 SFR re-fi loans in Memphis, TN. Seeking a hungry, knowledgeable mortgage lender. Any referrals are greatly appreciated.

    1Reply
  • Douglas SkipworthBusiness Member
    Rental Property Investor · Memphis, TN · Member since 2014 · 1k+ posts · 1k+ votes
    9y

    Hi, @Terrence Branley.

    I can't remember, have you talked with John Phillips at Brighton Bank?  I'd be happy to introduce you to him via private message if you want.

    Investor's Guide to Memphis Real Estate
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  • Harjeet BhattiPro Member
    Lender · Glenview IL- CDLP NMLS#230554 · Member since 2015 · 2k+ posts · 747 votes
    9y

    If its rate and term refinance,cash out or purchase we can do up to 10 properties under DU. If LP than 6 only.  

    0Reply
  • Terrence Branley
    OP
    Investor · Huntington Beach, CA · Member since 2016 · 26 posts · 17 votes
    9y

    @Douglas Skipworth - I haven't and I will take you up on the intro.  Thanks!

    @Harjeet Bhatti - I will PM with details.

    1Reply
  • James WachobBusiness Member
    Real Estate Broker · Memphis, TN · Member since 2015 · 1k+ posts · 887 votes
    9y

    @Douglas Skipworth I'd love the introduction to John Phillips at Brighton Bank, as well. 

    1Reply
  • Adam Summerer
    Lender · Franklin, TN · Member since 2026 · 23 posts · 2 votes
    17h

    Once you're past ~4–6 financed properties, a lot of "direct" Fannie/Freddie desks slap overlays or just die on DTI for self-employed — that's normal, not you. Ask specifically for the Multiple Financed Properties path with no extra property-count overlay, and get in writing whether they'll do a package/refi of Memphis SFRs for an out-of-state borrower. If agency keeps bouncing, the usual fork is portfolio/blanket or rent-based (DSCR) term sheets so you're not stuck waiting on one credit analyst.

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