Financing in East Texas
Hi BiggerPockets community,
My husband and I live in the greater Dallas area, but are eager to start investing in rental properties in Tyler (we have roots in East Texas). I've been calling regional lenders all morning to compare rates and terms, and I've been surprised to find that a 15-year fixed mortgage is the longest term we can find.
We had some good leads, but none of the properties work without a 30-year fixed-rate mortgage. I'm hesitant to go to larger banks, because a) I know they don't tend to be as investor-friendly, and b) we're both self-employed, which has tended to scare larger banks in the past.
Has anyone else encountered this dilemma before? Are there any East Texas investors who have obtained 30-year-fixed conventional loans? Thanks in advance!