Financing in Los Angeles>Question Details

khoylow, Real Estate Pro in Los Angeles, CA

Looking for Portfolio Lender for 2-4 Units non owner occupy for Los Angeles area property. 1/6/2013

Asked by khoylow, Los Angeles, CA Sun Jan 6, 2013

Want to purchase 2-4 units Los Angeles area. I do not qualify for conventional loan, because my total loan to vaulue is too high. I have a high Fico score. Is there any portfolio lender that will lend (fund)?

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6
If you don't have enough cash to put down for a property in Los Angeles, you may want to consider going an hour or two outside of LA and you will find much more affordable properties that may actually cash flow better. How much of a down payment do you have to work with?
0 votes Thank Flag Link Mon Jan 21, 2013
I have 3 units in Bellflower they are all rented getting good income every month give me a call perhap we can meet to discuss about a hard money loan
0 votes Thank Flag Link Sun Jan 6, 2013
I am not looking for hard money lender. Something like a soft money lender, around 5% fix interest rate 5-10 year.
Flag Mon Jan 7, 2013
I can get you a hard money loan for 6 to 9 months with 20% down, then I can help you refinance call me I need more information

Melvin Castro
310 930 6572
Prudential California Realty
0 votes Thank Flag Link Sun Jan 6, 2013
You did not say loan amount nor LTV you need.. but try kent.bascom@nafinc.com

best of luck!
0 votes Thank Flag Link Sun Jan 6, 2013
There is a 30 years loan programm that requires 30-50% down (depending on the property and your credit) and no need for income with interest rates under 5%.

Contact me if you serious and would like more info about this loan program.



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0 votes Thank Flag Link Sun Jan 6, 2013
Portfolio lenders typically have more stringent LTV guidelines than Fannie/Freddie. Do you have other assets (liquid or real estate) you can collateralize the property with?

I'd recommend you look into BofI Federal Bank (stands for Bank of Internet) & Advancial Credit Union.

Shane Milne | Lending in all 50 states | NMLS #81195
0 votes Thank Flag Link Sun Jan 6, 2013
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