Looking for Financing Options in NH

[Matthew Dennehy]

I'm looking for residential financing options for 2-4 unit multi family properties. 80% LTV, 30 year financing, must allow property to be purchased in the name of an LLC. I will use these products myself and have several clients looking for better products as well. Any help would be greatly appreciated. Thanks

[Matthew Dennehy]

Thanks for the replies everyone! Like you mentioned Ann, I have found it difficult to find 30 year mortgages that allow the use of an LLC. Conforming Mortgages won't allow it, and commercial typically doesn't offer the 30 year term. I have worked with a couple banks, Bank of NH and Optima Bank, that allow for the 30 year term on the residential side and the use of an LLC. I have used 10/1 ARM products with a 30 year amortization for several 2-3 unit properties from these banks. Optima just moved their residential portfolio products to their commercial side, so they are now originating and underwriting these loans commercially instead of residentially. Supposedly this won't change the terms of the products, but it's a new change so who know exactly how this will go.

Anyway, just looking to see if anyone else uses someone different that offers similar terms?  I personally prefer the 30 year mortgages, and I have several investor clients that are looking for similar products.  Just looking for options.  Thanks