I'm looking for a lender licensed in Atlanta, GA to finance investment/rental properties, thank you for your referrals !!
Hey @Josueth Irigoyen ! I've got an awesome and experienced Atlanta "money guy" that I'd be happy to share with you (in private, of course)! Connect with me here on BP and I'll gladly provide his name and number.
@Mitch Messer , I need the same help can I PM you also?
@Olivia Darling Absolutely, let's connect!
Hey @Josueth Irigoyen , what are the purchase prices of the rental properties you're looking to finance? Lenders have requirements of LTV and minimum loan amounts in this space.
Usually you're looking at 70% - 75% LTV (some do go up to 80%) and a minimum loan amount of $50K - $100K (depending on the lender). These loans generally range in the 7% - 9.5% range, with an origination charge of 1.5% - 2.5% due at closing; terms definitely vary (I have seen 30 yr fixed, 3/1 arm w/ a 10 yr term, etc). The benefit of going w/ a non-bank lender is that you don't have to worry about your DTI (or income in general really; which means no need to send tax returns!). They have more lax requirements around your FICO/credit history and they'll lend to entities and individuals!
Let me know if you have any questions.
@George Despotopoulos Hey!! I want to know your rental portfolio loan options. Need to refi out of my properties by the end of this month. Can you pm me information?
Originally posted by @Ashley Sanchez :
George Despotopoulos Hey!! I want to know your rental portfolio loan options. Need to refi out of my properties by the end of this month. Can you pm me information?
Hi Ashley! I sent you a pm.
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