Looking for a Local Bank with 75% Cash Out and Good rates

[Steven Tawresey]

Good morning. 

I am looking to complete the back half of a BRRRR and struggling to find rates I'm happy with from my current lenders. I currently work with First Western Trust (who I am terminating my relationship with, long story. PM if you're interested), Kiavi (Lending Home), Civic Financial, and Lending Home. None of these banks/lenders can give me 75% LTV cash out on a 30 year, fixed rate, PITI type loan.

First Bank goes to 70% Cash out. Kiavi has my rate near 5%. Civic only does 5/1 interest only. 

I bought the property at the end of August so it has 4 months seasoning. I intend to keep this in my portfolio for quite some time. It is in the name of my S Corp because I was originally planning on flipping it (mistakes were made). 

Any LOCAL bank suggestions and contacts you all can throw my way would be greatly appreciated. Thanks!