recommended local lenders

3 Replies

hi ,

looking for recommendations in the Florida area for local lenders specifically HELOC on investment properties/portfolio lenders/ cash out refinances...

its been hard to find banks that will give HELOC on investment propeties and the best cash out refinance on LTV is 75% from quicken loans.....

any help would be greatly appreciated....who do you guys work with ?

also looking for comercial loan lenders the best i found is a 15 year term at 5.6% interest...

thanks in advance

Hi Matthew,

The best chance to obtain a HELOC for NOO properties is with a local credit union. If you are doing a cash out refi the best place to look are with Non-Agency lenders who understand the Real Estate Investment space. Your 15 year term looks like a fairly good rate. Hope this helps.

-Dave

TD Bank will do HELOCs on investment properties in Florida.  Also Trustco bank has done investment mortgages. PenFed has a HEL product.