Portfolio Lender - NC?

[Tiffany Alexy]

Hey BP,

Looking to obtain a portfolio loan across a few properties to leverage up a bit.  Lima One does 8% but I'd like to stay around 6% if possible.  No pre-payment penalty preferred, though if there is a 1 or 2 year one that is fine.  I am fine with adjustable rate or fixed rate, as long as there is no balloon payment.  Don't care where the lender is, can be nationwide but properties are in NC.

Can anyone recommend a company I should look into? 

Thanks! 

Tags: Raleigh, Cary, Charlotte, Greensboro, Asheville, lender, mortgage, portfolio, loan

[Chris Martin]

Most small banks, where you will most likely get the best 'traction', will lend in small geographic areas. Asheville banks may not lend in Raleigh. Here's a list (from FDIC) of triangle based banks from Wake, Johnston, Harnett counties. I know for fact that at least two of these are chomping at the bit to lend. At least to well qualified borrowers. Read their SEC docs for more details on their specific underwriting or talk to one of their loan officers and schedule a meeting with their decision makers.

and fill in county and state.

FDIC #	name	base city	base county	assets (in $000)
	First-Citizens Bank & Trust Company	Raleigh		32795513
	Capital Bank Corporation	Raleigh		7789968
	The Fidelity Bank	Fuquay Varina		1808293
	Paragon Commercial Bank	Raleigh		1479318
	North State Bank	Raleigh		794715
	Wake Forest Federal Savings and Loan Association	Wake Forest		106019
	First Federal Bank	Dunn		169392
	Select Bank & Trust Company	Dunn		844197
	Four Oaks Bank & Trust Company	Four Oaks		721297
	KS Bank, Inc.	Smithfield		352033

I will leave it up to you to find your list for your county or counties.

About 100% sure if you don't call or contact them, they won't call you.