Alternatives to B2R Finance?

5 Replies

Hello,  I know B2R has sponsored the podcast before but it appears they have been bought out by another company.  When I go to the website I get Finance of America - Commercial.  It looks like to do lending for rentals and I have placed a call to them and am awaiting a call back.  In the meantime, I wanted to see if anyone else can recommend other companies to look at.  I am looking for a loan that is based on the cashflow of the asset with the asset as collateral instead of based on my own income.  Credit is good, will be 800+ once the credit cards I recently paid off show up.  The house i'm currently looking at I will be getting for about 75% of what it should appraise for so I'm hoping to find a lender who will lend on the appraised value, not the purchase price so I can bring less to the table.  Thanks for your recommendations! 

Originally posted by @Judson Osbon :

Hello,  I know B2R has sponsored the podcast before but it appears they have been bought out by another company.  When I go to the website I get Finance of America - Commercial.  It looks like to do lending for rentals and I have placed a call to them and am awaiting a call back.  In the meantime, I wanted to see if anyone else can recommend other companies to look at.  I am looking for a loan that is based on the cashflow of the asset with the asset as collateral instead of based on my own income.  Credit is good, will be 800+ once the credit cards I recently paid off show up.  The house i'm currently looking at I will be getting for about 75% of what it should appraise for so I'm hoping to find a lender who will lend on the appraised value, not the purchase price so I can bring less to the table.  Thanks for your recommendations! 

Hello Judson, I was just in Winter Garden @ the Library today :). Try MB Financial; I have been looking into them. Don't quote me, but I believe they do! I'm with Navy FCU and even they do up to 100% if the numbers are right. Any good properties in Winter Garden? Let me know if you reach out to MB.

Hi Camellia, 

Thanks for the tip on MB Financial!  I will check them out.  

Winter Garden is a tough market for rentals!  The rental market is hot but so is the buyers market and it's hard to find something that you can get even a 1% rule on. 

@Judson Osbon   

@Melvin List is a broker in Florida and has access to these types of programs, but you will still have to put money down. While the loans based on the cash flow of the property do go to around 75% LTV, if you're purchasing the property, they will go off the lower of the purchase price and not the higher appraised value (assuming the appraisal comes in higher than the purchase price).

Hello! - I was using a company called www.rentalhomefinancing.com - They seemed to have blanket loans and single property loans with competitive rates/programs.

Hi Judson, I was reviewing some threads and stumbled upon this one. I am sure you've found some lender option already; however, CoreVest American Finance can help with blanket loans. These will be 75% LTV for seasons assets or off purchase price when it is an acquisition.

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