All Forum Posts by: Account Closed

Does anybody have any recommendations for credit unions or portfolio lenders located in Pennsylvania for doing deals?

@Matthew Perry thanks Matt I have been thinking of this strategy for a multi family with an FHA. The credit union I am a member of also gives out 100% LTV for owner occupied single families.

@Ned Carey Is that true in your experience? Not even small credit unions that portfolio the loans would give out something like this? What is the highest LTV you have seen on a single family non-primary residence scenario like this? I will definitely ask the person I know who mentioned it to me. Somebody else on one of these forums mentioned he does it with a credit union but since I am new and unfamiliar with how this site works I am not sure how to loop in a new person to this conversation.

My goal is to get small 3 bedroom homes move in ready and lease option them and then roll into the next house with same parameters on another lease option with the down payment.... and the cycle continues.

I am a beginner in real estate and looking to scale a portfolio as fast as possible. How do I buy single family homes that I will not reside in for 100% LTV or anything close to that? I have heard of folks getting 95% or 100% LTV for non owner occupied houses. Where are they doing this at? I know that all banks even most community level banks (I have spoken to most in my region already) will not offer this type of financing due to the fact they have to abide by Fannie/Freddie lending standards. Are there any credit unions that will allow for this or other lending institutions that do not need to follow the Fannie/Freddie lending guidelines? I have created various financial models looking at renting or lease optioning properties that have 100% LTV debt against them and they are still very cash flow positive I just need financing.

Again I am looking to utilize these for NON owner occupied single family housing. I already have access to 100% LTV on an owner occupied single family. Any advice would be appreciated!