Oh and while the smaller groups may not have the same credability, ask them for some form of portfolio.

Unless you can build a good portfolio of borrowers for short term rehab flip projects or new build projects, it is tough to get 12% or better for 12 years straight, or even 3 years straight.

Go talk to some local banks/portfolio lenders about refiing and pulling some money out to purchase more.

Jumbo loans like all other residential loans can be put into securities or held in portfolio's.

I have no desire to build my portfolio around future headaches.Furthermore this seller isn't doing you any favors either. 20% down and 6.5% interest can be beat by most any lending institution if you have good credit, and this property runs a at a 1.20 or better DSCR.Add in the non conforming issues and this seller should be doing much better than he is with his terms.

This is my 2nd and the first one sold to a cash buyer before it was done so I haven't dealt with FHA yet.With that being said, I spoke with their bank and they are using a Portfolio product that is more strict on ratios but less strict on appraisals and the actual property.

I would suggest talking to a few local banks (portfolio lenders) we have at least three banks locally that dont have an issue with early payoff.

I had a large portfolio in the private client unit in Florida.

For myself and my wife, I found there is a mental shift that occurs when we have a 'company', which is beneficial to our portfolio.

I'd like to grow a portfolio and I'm not sure if starting with a 450k house is the right place to start.