Best Small Bank Near Nashville??

Question

I have two investment properties. Currently looking to refi my permanent residence. I was referred to a small bank not far from me that had some decent things to say about getting me in to more properties even when I run out of DTI... But when it came time to talk about the actual refi the woman asked me the same questions via email 12 times because she couldn't remember my answers.

I like to move when it's time to move. I don't want to answer the same question 12 times. Can anyone refer me to a loan officer that would be interested in my refi and can help me get in to my 3rd 4th 25th property??

Thanks!

I like to move when it's time to move. I don't want to answer the same question 12 times. Can anyone refer me to a loan officer that would be interested in my refi and can help me get in to my 3rd 4th 25th property??

Thanks!

Shari Davis · Answer

Hi Lucas - Republic Bank in Nashville has been attending REIN meetings and is particularly interested in working with investors. I don't recall his name but he or someone there might be able to help. I'll see if his name is in the REIN newsletter and post if I find it.

Luke Carl · Answer

Ok so she finally got back to me today with a lot of great info. She said if a property is newer than 2015 I can show them the lease and they'll count 70% of that (I assume in favor of my DTI?) and I can keep getting conventional loans as long as my DTI and Credit Score are in order. And if my DTI ever goes higher than 47% I can get balloon loans for more properties.

I assume this is about as good of a scenario as I'll ever find? Should I go with this bank??

Luke Carl · Answer

she asked me my credit score 4 times and all she had to do was scroll up to the previous email each time. Then she forgot to attach the final numbers so I had to assume she forgot and then ask her if she forgot at which point she said oops I'll send them tomorrow. Still nothing. She must be on salary.

Gerald Pitts · Answer

Curious about this too.  Thanks for posting.  The 12 email scenario is hilarious.  Why didn't she just search her older EMAILS FOR THE ANSWER? :D

Luke Carl · Answer

Is it common to have to get balloon loans after 4 conventional loans? Or will some places keep giving me conventional loans if I can show the income from the properties?

How do I get around the 2 years W2 on the properties rule?

Rosston Smith · Answer

I don't know any nearby there, but don't give up searching. Call EVERY loan officer in your area.

Best Small Bank Near Nashville??

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