Lenders in San Antonio

[Mark Mullen]

Hello, Can anyone recommend a reputable lender in the San Antonio? I'm working on a few small SFR deals.

[Mike Garland]

When you mean "small", how much money are you talking about?   Reason I ask is that a portfolio lender, such as a small community bank, typically does not want to look at loans less than $50k.  The cost to the borrower as a percentage of the loan can be high.   

Example:  $50k loan

Costs:  $450 appraisal, $500 origination fee, $350 title (this is if the seller pays for the premium), $550 attorney loan doc prep.  There could be more... but in this case we are looking at close to $2,000 in closing costs...that's 4%.   

Consider some alternative financing until you have a small portfolio of properties that are cash flowing, then go to a lender and get one loan collateralized by multiple properties.  Brings the cost as a % of the loan amount down.  I recommend making initial inroads with community banks and visit with their loan officer on options.  Good Luck!