All Forum Posts by: Ryan O'Mara

You'll always get better rates with conventional if you qualify.  But there are "bank alternative" perm lenders that provide good alternatives when the bank says NO.  And banks say NO for many reasons.  

There are 30 year am options besides the banks.

If you do not plan to live in the 4 unit and it's a pure investment property, then having an LLC is best. Most commercial lenders will require you to use an LLC. And they will lend to you even if you've just created the LLC. They will assess your credit since you would have to guarantee the loan.

Not hard money.  Hard money loans are meant to be temporary, usually 12 months.  

I'm talking about lenders who do permanent loans for multiple years but don't have as strict of underwriting guidelines as banks.  They are more willing to consider scenarios that banks would deem too risky.

There are "bank alternative" lenders who will do permanent refi loans up to 75%.