Looking for a solid portfolio lender in Chicago

4 Replies

Hi,

I am looking to purchase my first investment property. I intend to house hack a duplex or preferably a three unit building. I plan on utilizing an FHA or 203k loan. Ive spoken with Midwest Lending as well as Guaranteed Rate, however I would like some more options.. Can any of you recommend a good portfolio lender (small bank, mortgage lender, etc) that you have a had a good experience with?

Thank you,

Conrad

You'll find the a portfolio lender is going to charge you more in the % than an FHA loan or 203K loan. You're looking at residential properties? Portfolio lenders want multiple assets or large asset to make it worth either wild as they hold the loan not sell it off. Hit me up if you want to talk shop.

Originally posted by @Conrad Legé :

Hi,

I am looking to purchase my first investment property. I intend to house hack a duplex or preferably a three unit building. I plan on utilizing an FHA or 203k loan. Ive spoken with Midwest Lending as well as Guaranteed Rate, however I would like some more options.. Can any of you recommend a good portfolio lender (small bank, mortgage lender, etc) that you have a had a good experience with?

Thank you,

Conrad

If you are doing a FHA loan all banks will follow the same guidelines set forth by FHA - so if you got the same terms from both banks that is what you are going to get from any bank

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