San Antonio Texas Portfolio Terms

[Ross K.]

Hey all,

I'm currently looking to refinance a BRRRR duplex of mine and am wanting to get an LTV of higher than what i can get thru FNMA (70% LTV) and I've found portfolio lenders that will do 75-80% LTV, but with a amortization of no more than 20 years. Is there a san antonio portfolio lender out there that will do a 75-80LTV and 25-30 year am? Or is that a unicorn?

Ross

[Cody L.]

Originally posted by @Ross K.:

Hey all,

I'm currently looking to refinance a BRRRR duplex of mine and am wanting to get an LTV of higher than what i can get thru FNMA (70% LTV) and I've found portfolio lenders that will do 75-80% LTV, but with a amortization of no more than 20 years. Is there a san antonio portfolio lender out there that will do a 75-80LTV and 25-30 year am? Or is that a unicorn?

Ross

My own feelings: Focus on LTV and rate. If the am is ~20 years, don't let that be a deal breaker. I'll give up a long am for lower rate or better LTV (or longer terms). If a monthly payment is "higher" because of a lower am, that's not really a cost the way a higher rate would be.

If I were to 'break even' some month, I'd still make $50k due to principle reduction. 

So unless you really really really need that cash flow, put am length further down the list of important factors.