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Updated almost 7 years ago,
Investor Friendly Credit Unions/Lenders - LA/OC Area
Hello BP,
Long-time lurker, infrequent poster.
I'm getting closer to pulling the trigger on my first deal pretty soon; after months of due diligence, I'm pretty set on a single-family rental in college towns in California. Securing funding has been an issue for me, mainly because coming up with a 25% down payment in a market like California is costly. And, since the rental is an investment property, I can't go the FHA route due to occupancy guidelines.
With that said, I am looking for some investor-friendly lenders. I've heard great things about credit unions (Wescom, Navy Federal, etc.) but I'd like more information/advice.
I have a strong W2 income, virtually $0 in debt, a high 700's credit score, and a decent amount of money in the bank to show for it.
Thanks all!