Hi, I'm looking for a lender in the Milford, CT area - any recommendations?

Hi Curran, we're a national brokerage.  Happy to review any deals you have in CT.

@Curran D Bishop what type of lender in CT? 

@Curran D Bishop   Feel free to reach out to us for any of your rehab projects.  We lend up to 90% of PP and 100% of Rehab with a no doc program.  No bank statements or tax returns.  No seasoning or sourcing of funds.  No down payment verification.

@Simmy Ahluwalia thank you!

@Scott Hollister  I'll be looking for a multi-family that may or may not be my residence, so nothing commercial. New to BP so getting my financing  terminology down... 

@Sean Richway thank you!

@Curran D Bishop, What's this deal you are looking to fund. I just got funded by a private money lender and I'd be glad to give you a referral. PM if interested.

@Curran D Bishop It will be easier in CT if you are making the property your primary residence. There are a few things to keep in mind as you seek conventional financing. 

-In another post, you said this will be your 2nd home. You will need 6 months reserves for your PITI (Principle, Interest, Taxes, Insurance)

-Depending on your current mortgage, you may need to go conventional and put 20% down. If you plan to purchase this as an investment with conventional financing, you may need 25% down. (There are other low money out of pocket options like Fannie may Homepath, 203k, FHA, etc.) I just don't know your situation to recommend what is best.

-Best advice is talk to a lender that is local, our local meetup is held in a mortgage office with @Kit Crowne . He may offer better guidance if your plan is to go conventional. 

Best of success.

Scott, thanks a bunch--in response to your questions:

Originally posted by @Scott Hollister :

-In another post, you said this will be your 2nd home. You will need 6 months reserves for your PITI (Principle, Interest, Taxes, Insurance)

I got into real estate investing by buying homes in markets that crashed so I couldn't sell when I had to relocate for work :), so I own two single family rentals; I'm moving to the area and planning on renting while looking for a home with detached apartment I can Airbnb. If I can't find that I'm wanting to buy a multifamily as an investment instead and just keep renting my residence.

-Depending on your current mortgage, you may need to go conventional and put 20% down. If you plan to purchase this as an investment with conventional financing, you may need 25% down. (There are other low money out of pocket options like Fannie may Homepath, 203k, FHA, etc.) I just don't know your situation to recommend what is best.

Thanks for the advice!

-Best advice is talk to a lender that is local, our local meetup is held in a mortgage office with @Kit Crowne . He may offer better guidance if your plan is to go conventional. 

@Kit Crowne, or Scott, when are the meetups? I'll be in the area to shop for rentals around 12/4-10 and would love to attend if it's happening in that window; I will move in late Dec/early Jan and will start attending the meetups regularly then--thanks for the connection!