I looked at their website and they are a lender of govmit backed loans so the 3.5% is probably a starter rate on an owner occ adjustable its pretty easy to compare those  you can just call your local BoA or Wells and see what they are offering.my only concern with their website is they don't have the NMLS license listed and state license which I find very odd for someone with that big a profile that is the law that you display those on your advertisements /  website.

I know BOA does. 

Actually in the process of doing one right now with BOA.  

Wells just upped their rates since BOA can't offer.

BOA screwed around and suddenly told us the file had been closed but they weren't sure why.

Larger banks (WF, BoA, etc. ) will most likely never provide you anything higher than 80% LTV.

The HECM was transferred to BoA circa.

BOA or evil Wells Fargo all said they will not loan to LLC.Really appreciate your sharing.

When Lasalle bank got bought by BoA, they decided that there were a lot of relationships they didn't want because they were too small.  

In general, I avoid large Banks like Chase, BOA, or Wellsfargo. 2) I would consider using a property management company that will help you not deal with the day-to-day management of property. 3) Buying cash is good because it gives you leverage in the negotiation but, if I were to buy cash, I would immediately refinance with 20% down to increase my cash on cash return and use my money elsewhere.4) I would try to get a HELOC on the $650K property to have more liquidity if needed.