Local Banks and Credit Unions in Central Ohio

[Brian Tootle]

I purchased my first investment property a couple of months ago. It's a duplex in Columbus (43204). Both units are vacant and the rehab is almost complete. I am beginning to advertise for renters and am also starting to think about refinancing with a 30-yr mortgage (I used my HELOC to make a cash purchase on the property). My question is: Does anyone have any recommendations as to what local banks or credit unions I should start with? Do any Columbus area investors here on BP have a specific institution they always go to for mortgages?

I've already spoken with Heartland Bank but was not impressed with their terms. They do a 20 year loan with a 7-year fixed rate, then ARM for investment properties. They could also broker my loan (70% LTV) to Quicken for a 30-yr mortgage but my name must be on the title for 6 months first. My goal is to find an institution that will refinance my property ASAP after I purchase it so I can pay off my HELOC and move on to another deal. Thank you for any advice you can give!

Brian

[Eric Veronica]

@Andrew Mitchell the last point is relevant if you are attempting to do a cash out refinance with less than 6 months of ownership.  After 6 months the original price is irrelevant.