San Antonio Portfolio Lender

16 Replies | San Antonio, Texas

Any suggestions on a local bank that offers portfolio loans?   I have seen some recommend Southstar and that might be a great option but they don't have a San Antonio branch so making the initial deposit to open the bank requires a little drive 50-60 miles.   Might be worth it but want to see what other recommendations come up.  

Looking to establish a banking /lending relationship with a local bank that could possibly do better than 80% LTV on multi family properties and/or some that would have low closing cost on refinancing some multifamily properties. Thanks in advance for your replies and suggestions.

@Keith Borie Sonora Bank used to do 85% LTV on SFRs, but now they're down to 80% for new clients. Not sure how that translates to MF.

And I have heard service has gone downhill recently, for what it's worth. 

I have also heard good things about Eldorado National Bank and Ozona Bank. I have a good contact at Ozona if you want it.

@ Keith Borie, I'm also interested in knowing if you found any good portfolio lenders. Also, does anyone know of any good banks that offer good conventional loans? Currently undecided on what bank to go with. 

Originally posted by @Hayden Wall :
Originally posted by @Lluis Bacardi:

Just fyi, I tried with Sonora a few weeks ago and wasn't successful with them for a SFR.

What were the reasons for it not being successful?

After sending all the information they wanted, w-2, taxes, etc; they said my properties did not meet 1.2 rule, which they do. 

When I asked how they were calculating it so I could check or learn, maybe I've been missing out something... they weren't willing to share how they were calculating it, saying it was their own way, etc... 

Basically, for reasons I don't know, they didn't want to do business with me.

Back to the 1.2 rule, I haven't had problems with another lender to increase my portfolio loan guidance they gave me about a year ago to add more properties, so that's why I also think there was something else that was not shared with me.

Hello everyone, I'm also interested in refinancing 1 SF home with a local bank... I maxed out on my 10 conventional loans, so now need to find a San Antonio Bank for SF Refi and MF loan for my next property.


Adriel / Loca Investor SA area

Gregorio Martinez: I used Quicken Loans for 9 conventional loans they are pretty good!

These were houses I rehabbed and paid cash... so you need to wait 6 months to Refi and they do 75% LTV on a 30 year fixed conventional rate... at the moment its around 5.4%

@Jeff Richardson: Hi Jeff, Yes but the problem with delayed refinancing is that you get 75% LTV ONLY of the purchase price of the property and not on the money invested in the rehab.... in my case its big money on the rehab so I have to wait 6 months for a normal refi.

Adriel Ramirez