Investor friendly banks/CUs in East Texas?

Question

Good afternoon everyone, like the title says, I was curious if anyone had recommendations for investor friendly banks or credit unions around Longview Texas. I would really appreciate it, thanks in advance!

Pete Harper · Answer

@Jay Shuler

Last March I was having trouble finding a commercial lender willing to do a cash out refinance on a BRRRR. All the big banks were not lending. No luck with BoA, Wells Fargo or etc. Finally I made a list of 20 smaller regional banks and CU and started calling. I found two; Vera Bank and CBTX. I was able to close with CBTX. 80%, 4.25% 15yr.

Nick Dunin · Answer

@Jay Shuler

Hi jay,

I haven’t used etpcu yet but plan to.  They will finance a rehab project with 10% down of the acquisition cost and finance all rehab work as long as you have 20% equity when the  rehab is complete.  5% on a 5/1 over 20 years.

Welcome to east Texas!!

Tyler Lawhorn · Answer

Hey Jay, I'm in Longview and would love to connect with you. Welcome to Texas!

Aaron Gordy · Answer

Go to your local banks. Create a relationship with them. Relationships are everything. Credit unions are good too. A quick google search would lead me to Community bank first.

Eliott Elias · Answer

I have a lender i'm happy to connect you with

Mike Reynolds · Answer

Yes, love ETPCU. They have been my bank for 25 years but I haven't financed any investment property yet as most of my stuff is out of state. But they beat everyone I have ever put them up against on other loans like mortgage,car and other. GMAC credit was offering "great" terms on a truck down in south Texas and I just called them and they said no way. We got you covered and made it happen so fast the salesman didnt know what hit him.

Best bank I know for long term relations.

Now, if I could just find something local to buy.

Patrick Bartlett · Answer

I havent found one yet that could beat aimloan.com unless you are going commercial.

Mike Reynolds · Answer

Jay, have you tried ETPCU? Check them out.

Jay Shuler · Answer

Thanks @Pete Harper! That's super helpful. I'll do some research on Vera and CBTX. Really appreciate the ideas.

Investor friendly banks/CUs in East Texas?

Most Popular Reply