Long Beach Multifamily Lending Products

[Christopher L.]

Hi all. As multifamily investors here in SoCal we've been recently inspired by episode 288 of the podcast to start looking around for better lending products in the area. The guests on that podcast had mentioned they've found a local credit union who offers tri/fourplex loans at 90% LTV.

Perhaps we won't be so lucky here in the Long Beach area, but I'm curious if anyone happens to know any local lenders who have offerings better than the standard 75% LTV? Thanks!

[Steve Buchanan]

Hi @Christopher L.,

You are right there are lenders that will do 90% LTV on triplex/fourplex loans in Long Beach but it will have to be an owner occupied property. If it's an investment property (one you aren't planning to live in) then they will likely require you to put at least 25% down.

I happened to talk to a mortgage broker this morning about this exact situation. I haven't used him before but here's his info in case you'd like to reach out to him: Ubaldo Leon with RPM Mortgage 3109275369.