<$80K Lenders around?

[Quaid Cde Baca]

Hello community,

Has anyone else seen a recent shift in lenders with sub $100K mortgages, increasing their minimums loan amounts, increased APR and adding misc. fees?

I’m a new CA investor looking out of state, with too tier numbers to qualify, but hitting a wall with finding low mortgage loan lenders below ~4% recently. Looking to Buy-n-hold in Chicago, Charlotte, Columbus, etc.

It has all seemed to have shifted within the past couple months.

[John Warren]

@Quaid Cde Baca so much of this comes down to a relationship with a lender. It sounds to me like you are shopping lenders, but the lender makes very, very little money on one of these loans which is why so many banks try not to do them. This is where the team mentality comes in. If you let your lender make money, they will be interested in doing future business and will bend over backwards for you on future deals. If you are constantly shopping them on 60k deal to save .25% then they will give you a higher rate so that they can spend their time on someone else.