Mortgage Lenders In California

Sean Said:

Anyone know any Portfolio Lenders who will give a residential mortgage on a mixed used property in California?

We Answered:

Building a relationship with a portfolio lender is the best thing a RE investor can do to build his/her business.

Do some research, you probably pass a bank every day that is a portfolio lender. FYI: that bank will not be BofA or Citi but will be a 6 +/- branch concern that knows your local market.

Casey Said:

What are the maximum front-end and back-end ratios for home loans in California?

We Answered:

It actually has nothing to do with the lender per say.
The ratios will be decided by the AUS or automated underwriting system.
If you have higher credit scores and maybe more in reserves or for a down payment this will offset the risk of higher ratios.
I have seen FHA loans approved with ratios as high as 54%.

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