Shoutout to the loan officer who walked me through a portfolio loan vs. a jumbo

I was trying to finance a mixed-use property in Austin and thought a jumbo was my only path. My broker compared the two, and the portfolio loan's flexible DTI calculation saved me about $400 a month. Anyone else find a niche product that solved a weird property situation?

3 comments

3 Comments

the_angela19d ago

My duplex in Nashville had a detached garage with a finished apartment over it. Most lenders treated that rental income like it didn't exist. A small credit union with a portfolio program counted 75% of the lease, which was the only reason I could qualify. Their underwriter actually understood the local market.

jordanc3220d agoMost Upvoted

Portfolio loans aren't niche anymore, are they?

fox.matthew20d ago

Yeah, that "weird property situation" line hits home. Had a client with a three-unit where one unit was a short-term rental. Total headache for normal loans. @jordanc32 is right they're more common now, but that flexibility is still key. A local bank's portfolio product looked at the STR income differently. Made the whole deal work when nothing else would.