Need New Lender Referral

General Real Estate Investing
1

I’ve been using Wells Fargo to get our non-recourse loans for SFR rentals for the past 3 years now. Starting March 2008, Wells will no longer extend non-recouse loans for amounts less than $2 million.

Does anyone have a lender they can recommend that I can work with? The loans we need are typically 70% LTV between $150K to $500K.

Someone recommended Wachovia, but I haven’t called them yet. Has anyone used Wachovia and what do you think of them?

Thanks!

2

If you are looking to stick with national lenders, you can check with Washington Mutual (WAMU) and Bank of America.

Otherwise, I suggest contacting local banks/portfolio lenders.

Chris