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Updated over 7 years ago,
Colorado Banks for traditional loans to buy and hold
We are interested in doing a BRRRR strategy on a house we are looking at, and we currently are planning to do a hard money loan to secure the house and get the rehab done.
I am shopping for lenders to refinace the loan with who will do a traditional 30 year, no money down and then a HELOC on the equity after the rehab is complete (hopefully not making this a 90 day ordeal, as Security Service takes 45 days on the mortgage and then another 45 days for the HELOC!).
Anyone have experience with a bank that we could do this with, preferrably in Southern Colorado?
Any other creative solutions that allow us to leverage the equity?