Lender recommendations in Austin, Texas
Looking for recommendations on local banks in the Austin area that will provide a LOC against the equity I have in 4 houses and/or other assets. I haven't called anyone yet...figured I'd ask here first so I'm not spinning my wheels.
Thanks!
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Donna Fox with Barton Creek Lending recently did a presentation at one of the local REI Meetups. She is a mortgage broker. She talked about a host of interesting investor oriented programs including HELOC on rentals with up to 75% of appraised value. Other programs had no seasoning competitive rate/term FNMA refi for up to 75% of newly appraised value (up to 10 per spouse), same no seasoning for cash out refi on rental properties purchased for cash, great rates on homestead HELOC for up to 80% of appraised value, and even construction financing including ADUs and refis into 30 year fixed rates upon completion.
I haven't got any funding from her yet, but seriously considering. I did send her a couple of follow up emails and she was pretty responsive, even replied on the weekend.