Portfolio Lender Inquiry

[Tara Montgomery]

I was recently informed that there are portfolio lenders that don't do a credit check, don't require an appraisal (possibly BPO), or tax returns, etc and are truly asset based. Is this possible for a cash out refinance or rate term on 2 investment properties on the same loan that need to be refinanced and separated, or is this a unicorn by a rainbow sitting next to a pot of gold?

[Chris Seveney]

@Tara Montgomery

They may exist

There are a lot of lenders that will do those things but the equity has greater value

For example we pull credit but if the property is worth $400k and someone wants a $200k loan- I am not super concerned about the credit unless it’s like 500.