Updated almost 12 years ago on . Most recent reply
looking to lenders to buy and hold any suggestions?
Looking for some information on Lenders who are lending on buy and holds. I have a townhouse the would be a great investment property, below market value and is in a great area. Any suggestions on how to get a good lender?
Most Popular Reply
Your best bet is to find a portfolio lender (small, local bank). Many portfolio lenders will lend up to 70% of your costs (or appraised value if you've held it for 6-12 months), amortized over 10-20 years at about 1 - 1.5 points above typical OO rates.
You'll need decent credit and income, but if you have those things, a portfolio lender is your best bet...