Looking for a local bank that does portfolio lending in NJ

Looking for a local bank that does portfolio lending in NJ

Developer · Hoboken, NJ · Member since 2016 · 96 posts · 7 votes

Hi All,

My partner and I have about 16 buy and hold properties and have maxed our limit in terms of conventional fannie mae/freddie guidelines.  We are looking to work with a local bank lender that holds the loans on their books and will allow us to operate our business and add additional properties to our portfolio.  

We don't want to pay hard money rates as our credit scores are very high and we are strong, seasoned borrowers with lots of experience.  We are looking for a financing PARTNER more than anything.  

Please let me know if you can help.   

Thanks,

Mike

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  • Rental Property Investor · Burlington County, NJ · Member since 2019 · 540 posts · 771 votes
    6y
    Try Spencer Savings Bank.  They might.
  • Lender · Fairfield, CT · Member since 2018 · 183 posts · 82 votes
    6y

    Hi @Michael Elfant

    I would be happy to discuss your situation. There are programs that do not limit the amount of properties you have financed while keeping you closer to conventional rates than hard money.

  • Developer · Hoboken, NJ · Member since 2016 · 96 posts · 7 votes
    6y

    @Account Closed I'm interested in hearing more.  Let's connect.  

  • Investor · Member since 2019 · 43 posts · 11 votes
    6y

    @Michael Elfant send me a private message. I have a great team to refer you to.

  • Developer · Hoboken, NJ · Member since 2016 · 96 posts · 7 votes
    6y

    @Chris Mandle I sent you a msg.

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