Private/Conventional Lenders, Hampton Roads Virginia

[Gary Boggs]

Haven’t seen recent posts on the topic of lenders specifically in Hampton Roads Virginia, trying to revitalize the topic.

Looking at purchasing my first portfolio property that isn't a VA loans acquired due largely to having military orders to an area, looking for recommendations on private money lenders and conventional lenders with good rates in Hampton Roads. I am just starting out and not ready to HELOC or Cash-out Refinance my primary rental property yet (80k equity currently) so I'm looking to finance and use the BRRRR strategy to regain/acquire some more working capital.

Open to all Suggestions and Criticisms!

[Amy H.]

@Gary Boggs I will have to disagree with @Samuel Koch on this one. Atantic Bay may be good for owner occupant loans in Hampton Roads, but I have found that them and CapCenter don't have good rates or closing cost fees for investors. 

I assume you mean you are looking for an investor (non-owner occupant) loan. I don't have any hard money lender recommendations, but I do have some conventional loan suggestions.

I am in Richmond, but I feel like these lenders will work with someone in Hampton Roads too. Personally, I get quotes from George Mason, First Heritage, First Bank, and a broker from Home Loan Zone. I have a lot more success with companies like that than a CapCenter or Atlantic Bay. I got quotes from all of them a few weeks back for a loan I'm closing next week and Home Loan Zone and First Heritage had given me loan estimates that were almost identical to each other and beat out everyone else. Make sure to compare APR and closing fees (underwriting fee, discount points, etc) and not just the interest rate given.