Portfolio Lending

[Jasmine Claye]

Any users of Portfolio Lending from small banks care to share any of their personal experiences? Feel free to share anything about Portfolio Lending.

[Sharad M.]

Hi Jasmine,

The bank that I use has the following requirements:

-80% LTV
-No seasoning requirements
-No more than 3 investor loans
-Good income and credit
-7 years ARM amortized over 30 years

Couple of great things about this particular lender that I use is 80% LTV and No seasoning requirement. Obviously, I would like to get a fixed rate loan, but 7 years ARMS is a good tradeoff for the other benefits.

What I did was, I called about 30 different banks in my area, all local banks and credit unions. I had made a template of all the questions I wanted to ask and I made a spreadsheet of all the different banks, so now I have a nice little cheat sheet to refer to depending on my needs.

Let me know if you would like that template that I have to compare different banks.