Lubbock, Tx Lenders/Financing

[John Claborn]

Good afternoon! I've spoken with a few banks regarding their lending practices for single family buy and holds along with rates, and terms. I've had a few get back to me with typical 15/20 year notes between 5%-6% interest with 15%-20% down. 

Does anyone have any Lubbock lenders that would favor other strategies of lending? I'm perfectly comfortable with the above rates and terms, but I'd also like other opinions if they are out there!

I've heard about a program through Alliance CU where they will loan up to the ARV of the property.

Thanks!

[Joan Brown]

Yes, talk to Larry Chapman at Alliance. He has a great package that saves you the double closing costs if you are planning to refinance after rehabbing. You would have to talk with the appraiser so he/she knows what it will look like after your planned renovations.