Conventional financing in Michigan

[James De Silva]

After completing my first cash only purchase (yay me!), I'm up to purchasing numbers 2 and 3, but I'd be looking to finance these properties given I've only got enough for either one more cheap cash purchase, or two good quality financed purchases.

I'm interested in which banks or credit unions are the best in the michigan area (including out of state banks obviously) to work with as a real estate investor who wants to eventually own a large portfolio of SFRs. Whoever I work with must also be good for refinancing. I'm took @Joe Villeneuve  smart advice and purchased my first property with cash with the intention of eventually refinancing later to cash out the original price + more. Ideally banks/credit unions with lower seasoning requirements (time between purchase date and refinancing date) and smaller LTVs (20-25% instead of 30%) would be better.

I'm currently looking at PNC, Citizens, 5/3rd and Huntington. Would you guys have other recommendations?

[Nathan Emmert]

5/3rds and Huntington don't work well with investors.

PNC does portfolio lending but they generally want you to hold assets in the bank greater than the loan amount so that's probably out for you as well.

I'm not familiar with Citizens.

AAC and Founders both do portfolio lending over on the west side of the state.  If you're looking conventional I'd simply find a good mortgage broker and go from there.  Max out your 10 loans on that front and then move into portfolio lending.