OfflineWe have people all over that ask for no-seasoned refinance lenders and I know you all have actual lenders.
I wanted to start this forum to create a list for those of us around the country.
Will you post your no season refinance lender here. Include the name of the bank, the contact, the phone number and the requirements of the bank.
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If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
I posted a few weeks back looking for this forum. Thank you for starting this!
I have a bank that we use in Central Illinois but they only service Central Illinois. If you can prove that you can service the loan they will do no-seasoned cash-out refi's. They keep loans in house so they are more flexible for investors.
PM me if you are looking in this area.
Sheila
"If God is for us, who can ever be against us?" Romans 8:31 NLT
No-seasoned refinances are a great part of this business.
These are refinances that you can do to get better interest rates or cash out within your first month of owning properties.
How do you find these banks?
These banks will be small local banks or credit unions.
Many times the banks have 5 branches or so.
I actually use www.anywho.com. I go through the list and add the banks, address and phone number to an excel sheet. When I have taken all of the banks in the area (usally a state) I send the list to a salesman who I pay $0.50 per each bank call. If they give me a good bank I pay $10.00 then $500.00 if the bank pans out on a refinance.
This may help some of you. I am currently doing just this in GA...unless someone has a bank out there already. I would even be willing to pay the $500 if the bank you have actually pans out.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Here is a link that takes you to the FDICs Institution Directory search. Here you can do a search for active banks in your city. It returns banks that are headquartered in that city. Just enter active banks, in your city and state, then search. Click on the link to the bank and then select "list of offices". here you can see how many offices that bank has.
Make sure to search surrounding cities as it only list banks with a main office in that city. So a small bank might be headquartered in the next city over but have a branch in your town.
http://www2.fdic.gov/IDASP/main.asp
I searched all over the internet for a small bank 2 states away with no luck. Couldn't find a bank to do the no-seasoning loans. Maybe this will make it easier!
Thank you!
Make sure to search surrounding cities as it only list banks with a main office in that city. So a small bank might be headquartered in the next city over but have a branch in your town.
http://www2.fdic.gov/IDASP/main.asp
Sheila
"If God is for us, who can ever be against us?" Romans 8:31 NLT
Direct banks also; these are banks with no branches; all transactions are done online, by phone or at some atm machines.
Valerie
Valerie
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