Quote from @Jose Delatorre:
Hi Jordan do you mind sharing who your top lenders were and why you chose the one you ended up going thru. I also have a 3 family that I'm trying to refinance with a DSCR and I am concerned with the cash flows its in Chicago, IL. Also I am trying to hold onto it for the next 10 yrs at lease so if the 54321 offers me the lowest rate I would lean towards it. Credit is 740+. Thanks!
Hi , I pretty much found many of them to be around the same but what I do recommend and what I did was call as many local banks and credit unions as I could and ask them rates , amortization schedule, origination fees, pre payment penalties , refinance options if rates go down , as many things as you can think of and write it all down for each one. Most of the time you can find a local bank or credit union that will beat these country wide lenders In my experience. If not try KO at investor property loan . Or Robert Porter Launch financial and see what they have to offer. I had a much bigger building under agreement 15 unit launch financial had my rate in high 6’s with 30 year am which was great the deal ended up falling apart (not their fault seller misrepresentation) but I do like them and you can usually get them to lower their fees. Both are super nice people easy to talk too I’m just not sure if they have minimum size def worth a call!
