Need to refinance $3M SFR portfolio loan held by IRA (non-guarantor loan).

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Caroline Gerardo
Lender · Washington DC · Member since 2015 · 2k+ posts · 2k+ votes
2y

location of subject property, valuation, property type, currently rented for, is it in flood zone, experience of ownership determines who is lending. How many units in each market in the buckets. There are about ten in the US and they don't lend in every state. 

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  • Caroline Gerardo
    Lender · Washington DC · Member since 2015 · 2k+ posts · 2k+ votes
    2y

    location of subject property, valuation, property type, currently rented for, is it in flood zone, experience of ownership determines who is lending. How many units in each market in the buckets. There are about ten in the US and they don't lend in every state. 

    1Reply
  • Brian Ash
    OP
    Investor · Corona, CA · Member since 2014 · 12 posts · 1 vote
    2y

    I had half a dozen contacts from three years ago that were doing non-guarantor and now they're not. Seems overall, the demand has dried up. I haven't been able to get past the first question with anyone yet, which is "can you do non-guarantor loans". 

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  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    2y

    @Brian Ash

    This is very common now as most lenders are getting crushed on commercial side and recognize the residential side is going to have some pain and they do not want to get stuck with investor loans with no personal guarantee as that is what people walk away from first when they get in trouble.

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  • Jacob Sherman
    12 Penns Trail Suite 138 Newtown, PA 18940 · Member since 2023 · 1k+ posts · 319 votes
    2y

    Can do non recourse at a 10% ltv reduction on bridge loan 

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  • Beth JohnsonPro Member
    Lender · Renton, WA · Member since 2018 · 227 posts · 216 votes
    2y

    Check out North American Savings and Bank. SDIRA non-recourse loans used to be their specialty but I am unsure how much they still do as it's been a while since I've connected with them. I will say that LTV requirements and even strict qualifications for asset type, condition, age, etc. make it super tough unless the property LTV is below 50%.

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