Denver local lender recommendations

[Lessley Dennington]

Hello!

I am looking to purchase a property in Denver within the next year. My goal is to house hack - ideally I will be able to purchase a home with an ADU that I can use as a short-term rental while I live in the main portion. I would love to use a local lender for my mortgage and am looking for recommendations from others who have had good experiences. I am specifically looking to use an FHA loan (and potentially a 203K FHA loan at that), so lenders that offer these types of loans are a plus. Any and all recommendations are greatly appreciated!

[Kayla Givens]

Hey, @Lessley Dennington! Just sent you a DM - I have a really great lender that is in the Denver market, and he has a short-term rental house hack and can give you some great STR insight! :)

[Ben Einspahr]

@Lessley Dennington, We have a couple different investment friendly lenders we work closely with. The lender that is best for you all depends on your source of income (W2, 1099, self-employed). 

One is great with traditional W2 investors, and the other is great at thinking outside the box when working with investors with unique sources of income. Both are excellent at setting up long-term wealth building business plan from a lending prospective. 

Last thing when shopping around for lenders. Do not always pick the lender with the cheapest rates. You get what you pay for. I have heard stories of investors looking to HH but chose a lender based on a slightly lower interest rate and the deal fell fell through.

I'll DM you a couple recommendations. 

[William Ward]

Hey Lessley, good idea to House hack! I think it is a smart move in the Denver market. I work with a brokerage that has found great success through Merchants mortgage and through another company LendingOne.

[Dean V.]

Quote from @Lessley Dennington:

Hello!

I am looking to purchase a property in Denver within the next year. My goal is to house hack - ideally I will be able to purchase a home with an ADU that I can use as a short-term rental while I live in the main portion. I would love to use a local lender for my mortgage and am looking for recommendations from others who have had good experiences. I am specifically looking to use an FHA loan (and potentially a 203K FHA loan at that), so lenders that offer these types of loans are a plus. Any and all recommendations are greatly appreciated!

Hey Lessley!  Welcome in advance to Denver and the Househacking community!

You've picked an insanely powerful strategy - I work with @Craig Curelop on The FI Team and househacks are our specialty for that very reason!
I have a couple househacks here in Denver myself so I can attest firsthand to how effective they are.

I'll shoot you a DM with the names and contact info of two local lenders who I work with regularly and trust highly - they are both rockstars and have helped close MANY househacks for our clients.

Feel free to reach out to me if you have any other questions or need any other referrals!

Cheers,
Dean

[James Carlson]

Hey @Lessley Dennington

I'd reach out to Danielle Anderson at Waterstone Mortgage. She's an awesome lender in Denver, but she's also a house hacker and investor herself. She house hacks her home in Wash Park, and she does a lot work with our Airbnb investor clients. 

[Matt M.]

You should really read up on the 203k loan and its requirements and weigh that against going with just 5% down or so. I would also look into the STR laws regarding ADU use. @James Carlson would be a good resource to reach out to in that regard.