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Utah Real Estate Q&A Discussion Forum
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Updated about 7 years ago on . Most recent reply

Account Closed
  • Real Estate Agent
  • Lehi, UT
4
Votes |
11
Posts

Best credit union/bank for Real Estate Investing

Account Closed
  • Real Estate Agent
  • Lehi, UT
Posted
We live and work in Utah County and own a home and investment property in Utah County so looking for a local credit union or bank that would be good to partner with for future investment opportunities. We are currently looking for a multi-family investment property of 4-10 units near Provo, if possible. We’ve used mortgage lending brokers to this point but we’ve heard and understand that there are advantages to working with a credit union or bank that would have a relationship with us and be able to help us in future deals. My wife is an agent and I have a small business and then a good full time W-2 job. Would love to hear who any of you have worked with or have heard would be worth talking to. Thank you!

Most Popular Reply

User Stats

407
Posts
272
Votes
Becca Summers
  • Real Estate Agent
  • Highland, UT
272
Votes |
407
Posts
Becca Summers
  • Real Estate Agent
  • Highland, UT
Replied

Mountain America just got audited on the 10% down investor loan and they can't do them right now as of three weeks ago.  They are working on getting it back but for now the bank can only do 20% down loans. 

I did one of these loans back in April my rate was higher than market but the lower down payment was great and it cash flows well because it was bought under value. I'm sad to see it go. I hope they can get it back.

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