Creative lending questions:

[Alejandra Perez]

Hello! Does anyone know of a lender in San Antonio, TX with an underwriter that only requires 1 year worth of paperwork? Also, what are the advantages of a portfolio lender keeping my loan in house? Any advice would be greatly appreciated :)

[Tom S.]

@Alejandra Perez  I can't comment on San Antonio lenders, but regarding portfolio lenders, all of my loans are from portfolio lenders. Advantages for me: slightly less paperwork, fast approvals, leeway if your credit score is borderline for a specific rate, relationships, flexibility to lend on properties that need significant repairs.

Main con is slightly higher than average interest rates and shorter terms, for me at least.  5-6% and 20 year amortization is generally what I'm paying.

Hope that helps,

- Tom