Colorado Springs - Looking for Reputable Lenders

[Jeremy Babin]

Hello!

Brand new to investing, looking to take the first step in getting started by finding good lenders and getting approved.  Any suggestions or referrals would be greatly appreciated! 

Thx, 

Jeremy Babin
Colorado Springs, 80905

[Kreighton Reed]

@Jeremy Babin  I'd say you could split your financing options into 3 fields

1) Personal Mortgage: You can get the highest LTV through this option. It will be based on your own credit and your own SSN. In the Springs I would use Michelle Bowles @ midland states bank. Most first time investors use this option

2) Comercial Loan: Requires larger down payment, 20-25 year amortization, rate is usually only fixed for 5 years.  Investors that have multiple (over 10) start to use this product. Pretty much any small bank in CS will do this.

3) Hard Money Lenders: there are plenty on BP.  They will want more down than option 1, have a higher rate that option #2 but are easier to get "approved" granted the deal you are putting together makes sense.