Need New Lender Referral

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?


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.