They are all smaller, more local banks that use a loan committee style approval process (instead of feeding you into a central underwriting system) and I know they have all done loans like what you're looking for.Good Luck!

If they will not give a rate lock up front and do it  a few days before closing you have nothing.I ask lenders if they are currently under audit, in process being bought out by another bank, loan has to be through a committee etc.

We worry about a cap rate being 4% or 7%, others are worried about a cap rate being -5,000% because a committee had a Marxist spasm.

With the bank are you dealing with a decision maker or does it have to go to committee?

They are locally owned and operated and they make decisions in-house without having to ask a corporate committee out of state somewhere.

Not all loan committees are equal So terms and qualification can vary either a tiny bit or a lot.

They do have some good points, but in the beginning the TAR lease is pretty good.Interesting note about TX is that only individual landlords (not recommended) and lawyers can draw up custom leases/contracts, otherwise the TAR lease must be used.The state has a committee that is composed of real estate brokers & lawyers that come together to promulgate the standard contracts and forms used in all real estate transactions.

The POA Baord arbitrarily selected some Homeowners to be a part of committees.

The drawback that I've found with them is that loan approval is by committee.  

Income restricted (but you still have to make enough to qualify for the mortgage, so it's a very narrow band of persons that can actually buy it), and can only be sold to you for at most a price decided by some government committee, no matter what it's truly worth.