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Updated over 6 years ago, 07/24/2018

User Stats

5
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0
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Michael Shibko
  • Columbus, OH
0
Votes |
5
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Searching for Potfolio Lender

Michael Shibko
  • Columbus, OH
Posted

Hello BP, last year I used an FHA loan to buy a duplex that I now owner occupy in Columbus, OH. My plan was to refi to a conventional 30 year loan in order to free up the FHA to use on a 2-4 unit property to owner occupy.

I recently learned that portfolio lenders are able to do 30 year loans on a duplex with an owner occupant with a 5% down payment.  So I would be able to skip the refi of my current home and move forward to getting pre approved for a new loan with a low down payment.  I have found one portfolio lender that has told me that they will be able to do the 30 year/5% down loan. 

Does anyone have expirience with portfolio lenders that I can work with? 

Also since this option wasn't apart of my initial plan I am not entirely sure this is the best option for me, so advice/guidance would be appreciated.

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