Utah Portfolio Lenders

[Jordyn Archer]

I have over 30 Investment Properties in Colorado, Arizona, and California.  However, I would like to invest in my own back yard here in Utah.  Has anyone had an amazing experience with any bank/credit union/lender (local or nationwide that loans here in Utah) that could make things relatively simple from a Portfolio Loan perspective?  Any recommendations/referrals would be greatly appreciated!

[Beckie Reynosa]

There are various portfolio lenders in Utah but to direct you to them, I first need to know what type of a portfolio loan you need.  There are residential portfolio lenders and commercial portfolio lenders.  Residential portfolio lenders keep the residential loans on the portfolio of the bank/credit union rather than selling the loans to Fannie Mae, Freddy Mac, or a larger institution.  A commercial portfolio lender will lend based on your existing portfolio of real estate and your loan options are as broad as your imagination.  It just has to make sense for you and for the Bank.  Using your existing portfolio of real estate as collateral, you can get a revolving line of credit, a long-term amortizing loan, a short-term amortizing loan, a short-term semi-amortizing loan, etc.  The best loan for you will really depend on your intended use of the funds (to make sure your short-term and long-term plans align with the loan) and the equity and trust deed positions within your current real estate portfolio.   If you can give me more details, I will direct you to people that may be able to help you. 

Either way, I recommend you sit down and discuss your position with a very good commercial lender.  You may think you need a residential portfolio loan and discover that a commercial loan makes more sense for your long-term plans or vice versa.  A really good commercial lender who specializes in real estate will be able to help you determine your options.