I had trouble initially finding a smaller bank to potentially do business with and seller financing was off the table.

Hi everyone, I'm looking at purchasing our second multi family home coming up soon and wanted to see if anyone has used or is using any local banks that offer portfolio loans in Southeast PA.

That’s how is will be appraised by the bank if you have 4 units. 

We do get some direct from the Bank Foreclosures, but that's due to our relationship with them.  

Waiting for my bank account to fill up.

You have $350,000 in cash available to invest, and your bank has said that the potential financing terms would be 80% loan-to-value, 1.20 minimum debt coverage ration, 6.75% interest (fixed for 5 years and floating for the remaining 15 years of a 20-year term), with 1 point payable at the closing.

You will need to confirm with your bank which appraiser to use, make sure they will accept it.I hope that helps.

The key to a place like a mortgage bank is that they may have a ton of options for different banks/lenders and many of those places will underwrite things differently. 

@Doug HaistenNot much you can do with a property that is worth 79, has a mortgage on it for 85 and needs 10K to bring up to speed.Wait for the bank to foreclose and hopefully you'll be able to wholesale it for 30.  

Don't do a "table top" closing.And of course once the bank learns that you are taking over the loan they can enforce the Due on Sale clause.