Recommended conventional lenders in greater Austin area?

Question

My husband and I live in Seattle, but due to the housing climate here we are starting our exploration of buying our first investment property in the greater Austin area, probably somewhere in a surrounding area not Austin proper.I have family in Hutto and Georgetown, but they bought their homes 10+ years ago and had no current recommendations for us. We plan on putting 20% down and want to buy and hold the property. Can anyone recommend any mortgage brokers that are willing to work on loans for investment properties in the greater Austin area? We'd like to start getting all our ducks in a row so we can hit the ground running once we find a property.

Costin I. · Answer

I don't think you can get less than 5% for an investment property, without paying points to lower the rate. More likely 5.25 or 5.5% - I would call that good rate currently.

Neil Narayan · Answer

Check out Max Leaman at https://www.maxleaman.com/

Account Closed · Answer

Hey Natalie-

I have some recommendations I'd love to pass along as well as some local Austin lenders to put you in connection with! Feel free to reach out whenever!

Natalie Novak · Answer

Thanks everyone. I did get quoted a rate for a 30 year loan at 5.75% interest with 20% down. I knew investment rates would be higher, but I was hoping for a little better considering we have excellent credit and money for down payment. Do you think I can do better? I was told if it was a second home we’d get 4.75%, but we do intend to rent it.

Scott Fehrenkamp · Answer

If you're a fan of local Credit Unions, Amplify CU is great!

Saberian Younger · Answer

I'm with @Nilesh Nara in recommending Max Leaman. His process was very streamlined and if anyone can get it done in Austin it's him.

Aaron Gordy · Answer

@Natalie Novak As a broker I have some very good ones to choose from. I have been doing mostly investment type deals for many years and have learned through trial and error who the best are on many fronts. Pm me and we can discuss further.

Costin I. · Answer

Natalie, we moved from Seattle (due to the wonderful continuous gray climate) to sunny Austin 4 years ago and have several rentals in Round Rock and been active in the investment community. Can give you referrals to agents, lenders, brokers, insurers, HML, etc. Are you looking for conventional lenders, portfolio lenders, HMLs?

Wayne Bolen · Answer

I'm working with a mortgage broker in Round Rock. He's a buddy in a small veteran's group that I'm apart of. I'll be happy to pass along is information if you'd like.

Recommended conventional lenders in greater Austin area?

Recommended conventional lenders in greater Austin area?

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