Lender Review? Jeff Miltenberger - Guild Mortgage

[Eddie Aviles]

Has anyone used Jeff Miltenberger from Guild Mortgage out of Lynnwood, Washington? Was referred there by a real estate agent and just trying to do my due diligence.  Will be looking for a multi-family loan. 

[Kevin Romines]

@Eddie Aviles Having been a previous loan officer with Guild until recently, I can tell you Jeff is a very accomplished loan officer with many many closings. He has a team behind him that can get the job done. I don't think I would question his credentials, the only thing you might consider would be if Guild has the right program for what you hoping to do? My gut says they do (I'm assuming you want to buy the 1-4 unit multi using a Fannie Mae loan? Fannie will give you the best rates and terms on 1-4  units) 

If its more than 4 units, then more details come into play? Commercial is considered anything 5 units and above. For a fully stabilized property with a loan amount of 800-1,000,000 up to 6 million, then Freddie Mac or Fannie Mae small balance commercial loan is the best terms you could ever hope to get. However if the property isn't fully stabilized, and it needs to be rehabbed or occupancy increased (fully stabilized is typically considered 85-90% + occupancy) then you may have to do the purchase with a specialty commercial program until it can become fully stabilized. Then refinance it to Freddie or Fannie. 

Guild has a referral program for 5 units and above to Penny Mac. Guild doesn't do anything other than refer it for a .25% referral fee. Penny Mac takes it from there. Penny Mac has some programs, but not all the specialty programs that you may need? If you need a specialty program for the purchase and rehab, you will need to look at a lender that actually does the loan and has the programs available. If you want additional details, PM me.