All Forum Posts by: Ryan O'Mara

There are many lending options outside of traditional bank loans.  There are many permanent lenders who will not limit how many loans you have.  PM me if you need more info.

The only perm lender I know that offers non-recourse on SFR has a min. loan amount of $700k. Are your targeting properties in that price range?

Many lenders will work with foreign nationals.  Feel free to PM me if you like.

The lender is probably saying that they will lend you 80% of purchase price and 100% of rehab as long as this doesn't exceed 65% of ARV.

In your scenario your loan amount would be 90k.   The lender would be willing to lend up to $110,500 but you don't need that much rehab so you are well under the lender's limit.

There are some rehab lenders who will not require you to put money down as long as the purchase + rehab doesn't exceed their LTV/ARV ratio (usually 65-70% of ARV). There would be closing costs you'd need to pay but not down money.

It's at the discretion of the lender.  They usually want to pick their own appraisers so don't hold your breath.

There are perm lenders who will do up to 75% LTV cash out refi with less than 6 months of seasoning.

There are many "bank alt" permanent lenders who will do what you're looking for.  

HML are meant to be short term. Usually 12 months. I would not recommend doing this for a buy and hold strategy. There are "bank alt" permanent lenders who can provide perm loans and don't require tax returns.

The real question is how long must you hold a property before a lender will lend off the full appraised value as opposed to the price you paid for it.  That amount of time is called seasoning.  Banks tend to be risk adverse in their lending practices so their seasoning requirements are usually longer than other "bank alt" lenders.

Some bank alt lenders will lend as much as 75% with little to no seasoning requirements.  Every bank is different but you may find them wanting 1-2 years of seasoning before they'll lend off of appraised value.

Banks can be so silly with their requirements.  You need a perm lender that isn't a bank.