I am looking for a portfolio lender in Alabama

10 Replies

Hey guys I am looking to do a cash out refi on a house I have free and clear in Alabama. I need a lender that can do a long term fixed rate in either my LLC or do a no doc loan in my personal name. (My DTI is destroyed due to co-buying an expensive beach house as an investment property). I would prefer to stay below 6% rate if possible.

@Caleb Clay we do 30 year loans on Investment properties and require it close in your LLC. We have 30 year products (fixed or adjustable). Rate will be determined by credit score and LTV. DTI is not an issue at all, we base it on the rental income vs monthly payment of subject property.

We can do a 30 year fixed stated income product on something like this but as previous replys mention it will be credit score driven in terms of rate. 

Caleb, We are trying to get investors like yourself to "Self -Finance" deals up to $300,000 by using business lines of credit. If you operate your real estate business through your LLC you may already be approved. Use our Business Loans your Fund Real Estate deal We fund you start-ups allowing you to transfer your personal debt to your business.   Using business credit lines through our relationship with major banks around the country could be the answer.

https://nationalcc.wufoo.com/forms/hamilton-investment-properties/

Please click the Link above, and apply on-line now. Remember we help Tote the Note on investments in "special Need" housing we manage. Also, we welcome Co-Signers and Business Start-Ups, funding them nationally.

Clay, If you have not already settled on a lender, I would recommend you try the services of Investment Property Loan Exchange.  All the top private lender programs are available for rental loans and the team will find the best deal available for you.  The website is www.iploanexchange.com or you can call 636-552-4710.

@Caleb Clay - we can do this, but only conventional banks are going to be in the sub-5's. Our rates are maybe high 5's to high 6's, depending upon credit and DSCR of the asset.

Caleb, before you decide send me an email address I want to send you info on our 30 Yr plans.  Hope to hear from you.

Reggie Truss/The Loan Father

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Originally posted by @Caleb Clay :

Hey guys I am looking to do a cash out refi on a house I have free and clear in Alabama. I need a lender that can do a long term fixed rate in either my LLC or do a no doc loan in my personal name. (My DTI is destroyed due to co-buying an expensive beach house as an investment property). I would prefer to stay below 6% rate if possible.

Should be closing a loan in Enterprise Alabama next month (would have been this month, but there was a zoning issue).  Would love to help you.

Stephanie 

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