Any lenders out there still funding???

Question

I’ve been making calls, sending emails, and searching for a good part of the day. My normal lenders have dried up or are waiting to see how things end up. However, I have a couple of duplexes I’m trying to fund in Maine. Long time financing for a buy and hold. Can anyone help me out here or point me in the right direction? Thanks!

Keith C. · Answer

@Lola Omishore we are doing NON QM loans .

Drop me a message and I’ll give you current programs available.

Lola Omishore · Answer

@Chris Mason, I think that OP is referring to non-conventional lending.

I’ve had the same issue since April. Looking to finance a buy and hold deal in Connecticut. But have been unsuccessful in securing financing.I have 30% to put down, credit score over 740, liquid assets etc.

But most lenders that aren’t back by Freddie Mac/Fannie Mae have ceased origination on 30 year rental loans and are primarily doing Bridge Loans.

Chris Mason · Answer

Could you be more specific? Lenders are still lending; here's the timeline of one for an investor client that funded today. Start to finish, 2 weeks. Oakland landlord.

Calvin Kwan · Answer

How are lenders drying up?  I was working with @Chris Mason on a deal a few weeks ago.  It didn't work out (due to appraisal, not Chris - he's great), so I ended up with BofA.

Sochima Eze · Answer

What she said.

Most private lenders were eager and ready to close on deals in under two weeks. Now, I'm not sure they're still in business at all. I'm watching deals come and go because I can't line up financing.

Lola Omishore · Answer

@Keith C. That’s great news! I just sent you a message.

Any lenders out there still funding???

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