The portfolio lenders I know are a lot more particular than what you expect. It is true they are not required to follow the same guidelines as a lender origination for the secondary market but that does not mean they are any easier. They may want the name and phone number of your third grade teacher and will ask them if you turned in your homework in a timely manner. That is a slight exaggeration, but not by much.
I assume you are not asking about â€œhard money lenders.â€ If I am right, the profile you seek is probably a retail bank, not a small local lender and not an 800lb gorilla either. But a mid-sized regional bank that doesnâ€™t have auditors second guessing their lending practices. So if the bank has been a little wobbly in the past 2 years, they probably canâ€™t do it even if they want to. You are looking for a stable regional or very, very strong local lender that is aggressive in the mortgage arena. Good luck, hope it works out for you,
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Financing Kentucky One Home at a Time
I answer questions about financing real estate based on my decades of experience dealing with mortgage underwriters. This answer is my personal opinion, has not been reviewed or approved by the company I work for. I do not offer legal or tax advice, if you need answers from an attorney or CPA find one knowledgeable in your local market.