** Huntsville, Alabama Portfolio Lender Needed **

12 Replies

I recently purchased 3 great single family Homes in the Huntsville / Madison County area.  I want to purchase

more but I’ve hit a roadblock with conventional financing. According to Fannie Mae Guidelines, the minimum 

mid Fico score needed to purchase my 7th through 10th investment property is 720 and my mid score is now

just beneath that.

I need a Portfolio Lender to help me buy additional investment properties in the Huntsville / Madison County 

Alabama area. Portfolio Lenders do not have to work with Fannie Mae guidelines and can be more flexible with 

their underwriting guidelines.  I would appreciate all recommendations.. Thank You !

Thanks Craig, I've already called the downtown Huntsville Branch for Bryant Bank but Rusty wasn't in.

Could you please send me his cell phone # ? It looks like you tried to in your earlier message but it's missing one #.

Thanks !

Hey Craig,

I'm just learning how to get around this site. I just tried to send you my email but got blocked.

How do I send you a private message ?

just spoke briefly with Rusty. Apparently the Bank prefers to deal with local folks and aren't too interested in out of area investors.

We're going to talk further in apprx. 30 minutes but it looks like I will need your referrals.

Thanks again

Originally posted by @Craig Stahl :

Email me and I can send contact info for rusty and a few others

Hi Craig, 

I found this old thread and wanted to revive it.  I'm looking for a good commercial banker in north Alabama and ran into some headwinds.  

1. I'm an out of state investor from Arkansas.  The scuttlebutt is that a lot of lenders don't want to deal with non-locals.  

2. Terms. I'm getting 85/15 LTV in Arkansas and 80/20 in Kentucky. Commercial lender I spoke with yesterday said the gold standard in north Alabama is 75/15. Moreover, he told me that the best you can expect is a 15 yr amortization. Uff...

You appear to have your finger to the pulse in this market.  Any recommendations for commercial lenders with reasonable terms and amenable to working with a guy like me?

PM if you would like and we can connect.  Thank you kindly in advance to anyone that wants to chime in, as well.

-Jamie