Finding a Portfolio Lender in Kansas City

6 Replies

Any suggestions for a good portfolio lender in Kansas City?  Someone who will do a full 30 year mortgage?  I have too many properties for a government loan, but not interested in a commercial loan that has a short amortization and balloons after 10 years.  With a commercial loan, it is too difficult to make a property cash flow with the high interest rate plus short amortization.  Thanks for your help.  

Hey Kurt, 

I know there are some Community Banks that will give you a 20 or 25 year amortization with a reasonable interest rate. 
 

For example: properties that can cash flow with a 1.25X DSCR and a rating of C or better. These types of properties will be given the favorable terms of a 20 or 25 year am with a 7 or 10 year balloon and maybe a 6-6.5% fixed or 5.25% floating rate.

Originally posted by @Dev M Patel :

Hey Kurt, 

I know there are some Community Banks that will give you a 20 or 25 year amortization with a reasonable interest rate. 
 

For example: properties that can cash flow with a 1.25X DSCR and a rating of C or better. These types of properties will be given the favorable terms of a 20 or 25 year am with a 7 or 10 year balloon and maybe a 6-6.5% fixed or 5.25% floating rate.

Hi Dev - Thanks for sharing that, but what i am looking for is a full 30 year amortization with no balloon.  1st Bank does portfolios loan like that, but they don't lend in Kansas or Missouri.  

I think I have someone for you, message me for his contact info. 

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@Matt K. Can you send me that information as well please.

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