The market seems to have some pretty varied pricing right now. Just looking to see if anyone on the board wants to quote or knows somebody who wants to quote a single family investment property in the Houston area.

Interested in this as well. Also, HELOC rates?

I can get you a quote but you won't like it. Fannie/Freddie slapped an additional 2 points on top of the 2-3 they were charging before. Contact in my profile

That is what I've picked up on. Wells quoted 4.0% with 25% down for a loan I assume they hold.

I'm about to close on a HELOC with Hancock Whitney and got 3.75%. Happy to pass along the info you want it. This was on personal residence. HELOCs for investment property don't really seem to be offered by anyone right now.

I would love to compete for your business. Assuming 25% down (the best rate available for non-owner) good credit etc I would be in the mid to low 3's for 30 year fixed. My email is my screen name here.

And we do have a HELOC product for non-owner occupied but they do have to be in first lien position. So, if you own the property outright it is a good solution. But, we can do a first lien cash out loan on non-owner occupied but it would be a fixed rate, not a line of credit.

Fannie/Freddie did not add any loan level price adjustments to non-owner occupied properties but they did cap the % of non-owner or second homes that any one lender could deliver to the agencies. They caped this number to 7% of total loans. So, what this did was spur a lot of lenders/investors that were concerned they might go over this threshold to raise rates to slow the flow of those loans. We are still priced more or less the same as before the April announcement. At least for now anyway.


https://www.housingwire.com/articles/fannie-mae-tightens-standards-on-investment-properties/

El_Gato said:

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I'm about to close on a HELOC with Hancock Whitney

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I've got some loans with Hancock Whitney that rolled over from mid south. Honestly, they are terrible! Bad communication, almost impossible to get anything done, impossible to get info out of like payoff amounts, jacked up online banking, etc. Can't wait until I can rid myself of those loans.

Went through the wealth group at Hancock and closed an unsecured line of credit in one week. Have had a good experience so far.

We're running a HELOC special with 0.9% for the first year.

Also have a portfolio 10/1 ARM for investment properties 70% LTV around 3%.

jja79 said:

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Also have a portfolio 10/1 ARM for investment properties 70% LTV around 3%.

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This is an in-house product with simpler underwriting and lowish closing cost?

It's a loan we put on the bank's balance sheet. It's underwritten to current standards and has similar closing costs to an agency loan. I priced one for a client this morning at 2.875% with 0 points on an investment property.

I'm looking for non conventional loans , we offer DSCR, portfolio loans , etc... (no fannie stuff)

Monty

El_Gato said:

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Went through the wealth group at Hancock and closed an unsecured line of credit in one week. Have had a good experience so far.

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Would you be willing to share a contact @ Hancock, for referral? Also, did you go thru the Wealth group for a specific reason vs a commercial/real estate banker? Haven't used them before, but looking at a similar LOC product and the turnaround time is attractive!