Anyone’s market offering 30-year fixed portfolio loans?

9 Replies

People of Earth,

I'm an investor in Fargo, ND and we have a shop in town that will offer a 30-year fixed loan at around 4% for 1-4 unit properties that they keep in house. 70/30 LTV but no other real gotcha's or catches. We can quit claim stuff into or out of an entity without any hassle. Since we've had a relationship for a bit here and they have all our financials, a deal can be put together pretty quickly.

Anyone else have anything like this in their market?  We’re hoping to move into a second market for some geographic diversity (and ideally a place to stay warm in the winter).  In what I personally believe to be a bit of an inflationary environment, I’m looking to fix what I can for as long as I can and the 30-year amortization is pretty great for cashflow.  Thanks!

@Steve Shaffer really great question. having been in 7 other states I have only found a 25 yr am at 70/30 LTV. The rest are 20 yr. The 30 yr is a game changer and will share if we do find one but actively looking as well.

West Coast (OR, WA, ID, AZ, UT, NM) portfolio loan 10% down, no MI on 1-4 unit. 90 LTV on purchase and Rate/Term refis. Interest rates 3.25%-3.50% with 1.75 - 2.5 pts typically. 30 year fixed with 15 yr balloon (which is an eternity compared to 3, 5, 7 year commercial balloons). Cash out up to 85 LTV and rates in the 3.75%-4% for 1-4 units on Cash out refis. I have used this in my own portfolio multiple times instead of putting 20-30% down and the properties still cash flow with the low downpayment due to the great interest rate. Works perfect to get in and capture all this great appreciation we are having on the West Coast. This is the best portfolio solution I have seen anywhere in my investing career. BP investors have loved it so far as well.

@Steve Shaffer just filled out an application for an IL rental property with Lending Home for their 30 yr rental progream. Rates are not as good (5%) but may be worth it since they do nearly all states and that 30 yr am makes things nice.

Hi @Nicholas Covington , Academy Mortgage, who I work for, offers this as a portfolio solution. I have a helped a lot of investors from BP with it in OR, AZ, ID, WA and NM, as well as used it multiple times in my own growing portfolio. I was trying not to self promote on the open forums as BP does not like this. I was simply trying to share a perspective of other loan options out there compared to some of the ones already shared on this thread. Thanks for asking!