Lender licensed in Atlanta, GA

6 Replies

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?

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