Investor · Commerce City, CO · Member since 2016 · 19 posts · 7 votes
I've got an offer accepted on a duplex and am currently have lined up a Credit Union to do the financing. However, I always like to have a backup strategy and was looking for a lender with low reserve requirements, I.e. 2-3 months that services the Pueblo CO area? Any help would be appreciated.
Lender · West Berlin, NJ · Member since 2015 · 308 posts · 27 votes
9y
I have a source that specializes in financing residential investment properties. They are able to provide real estate investors with long term loans in weeks instead of months.
Loan Rates: 30-Year Fixed-Rates: starting at 6.49% 3/1, 5/1 and 7/1 ARMs: starting at 5.89%
Rates are determined by credit and loan to value. Minimum FICO score is 620.
Loan to Value: Up to 80% LTV
Loan Amounts: $60k to $2m
Eligible Properties: Single Family Residence, 2-4 Unit Properties, PUDs, Warrantable Conds and Townhomes
Eligible Borrowers: U.S. Residents and Foreign Nationals
If interested, just e-mail me at [email protected] the following information: Borrower Business Entity Name, Phone Number and brief explanation of your project. Once I receive your information then I will have a loan representative to call and discuss.
Hello Erich. I'm working with Legacy Bank in Pueblo and have been really happy with them. Let me know if you'd like to contact my banker. I'm not sure about their reserve requirements exactly.