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Real Estate Investing: How to Choose a Lender
To become a successful real estate investor it's vital to have a long-term relationship with a good lender. Having a flexible lender who knows your needs and objectives can be the difference between success and failure in your investment career. Choose several lenders to begin with, and then interview all of them. Ask friends, other investors, and realtors for referrals. Call all of your potential candidates in the same week, so you'll have identical criteria for comparing their rates, fees, and programs. Instead of trying to fit into a lender's program, interview your lenders by finding out how they can accommodate your needs. Here are a few questions to ask: 1. What are their requirements for middle credit scores and income? 2. What are their standard loan costs? These include things like points, processing, underwriting, documentation preparation, filing, and credit report fees. Can you add these fees to the loan amount? 3. Is there a required holding period before you can resell the property? Are there prepayment penalties when you flip your investment properties? 4. Do they require mortgage insurance? If so, what is the minimum percentage you'll need to put down in order to avoid having to purchase that insurance? 5. How much can you finance, and can you finance fixer houses? How much down payment would be required on such houses? 5. Can sellers help with the loan costs, and to what extent? After you've interviewed your potential candidates, make your choice according to the programs that fit your needs, as well as from the feeling you get from that person. Do they seem as if they'll be easy to work with from a personal standpoint? Since you're hoping to use that lender again and again, it's important that you feel comfortable with them as a person as well as a source of financing. A good lender wants your repeat business and works hard to find the right loan for each transaction. They may even be able to help you locate potential investment properties. Finding a great lender is a crucial component for your ultimate success as a real estate investor, so choose carefully. (c) Copyright 2004, Jeanette J. Fisher. All rights reserved. Professor Jeanette Fisher, author of Doghouse to Dollhouse for Dollars, Joy to the Home, and other books teaches Real Estate Investing and Design Psychology. For more articles, tips, reports, newsletters, and sales flyer template, see http://www.doghousetodollhousefordollars.com/pages/5/index.htm
MORE RESOURCES: Batman’s Office and Secret Bathrooms—These Real-Estate Agents Have Seen It All The Wall Street Journal Real estate deals, ‘high’ returns, 100 victims: Indian-origin ‘glam’ couple held for $4 million scam in US | World News - Hindustan Times Hindustan Times Real estate expert warns socialist mayoral candidate could trigger massive NYC exodus - Fox Business Office real estate wide open in Denver as vacancy rate hits 36 percent Colorado Public Radio Altadena’s rough real estate market: Slower sales, lower prices, lottery winner plucking up properties Los Angeles Times Erie County real estate transactions Buffalo News Real estate magazine reports Les Wexner as Blue Heron buyer The Martha's Vineyard Times 'Married to Real Estate' Stars Get Huge News after HGTV Cancellation Country Living Magazine NAR Real Estate Forecast Summit National Association of REALTORS® 20 Worst Housing Markets Facing Biggest Price Crash or Correction by 2026 Norada Real Estate Investments Residential lending shifts: Local credit unions gain ground, banks lose volume The Business Journals Real Estate agent speaks out as sheriff’s investigators search for missing foster mom fox5sandiego.com Las Vegas leads nation in glut of homes for sale, say Realtors Utah News Dispatch Future of malls: Arizona's retail centers evolve as customers' habits change The Arizona Republic Central Mass. real estate transfers, Sunday, July 20 Worcester Telegram How Trump’s personal aesthetic is redefining White House décor: 'I picked it all myself' - USA Today Neal Communities to celebrate Palmera at Wellen Park grand opening on July 25 Sarasota Herald-Tribune Don’t Skip This Moving Day Step: What to Clean Before Handing Over the Keys - Better Homes & Gardens Don’t Skip This Moving Day Step: What to Clean Before Handing Over the Keys Better Homes & Gardens Real Estate Property Transfers Spring Hill for June 23, 2025 Williamson Source I Tried Zillow’s New Aerial 3-D Search Tool, And I'm Obsessed Country Living Magazine Old Family Dollar demolished in Quincy Center. What will take its place? The Patriot Ledger Couple in California surrogate case also faces two lawsuits over real estate business practices NBC News New report documents that it's harder for Columbus and other Ohio residents to make rent The Columbus Dispatch International Buyers Purchased $56 Billion Worth of U.S. Homes from April '24 to March '25 National Association of REALTORS® Canadian psychologist Jordan Peterson sets up shop in the Valley, records show The Business Journals Real Estate Transfers ~ June 25, 2025 The Bedford Citizen Top Real Estate Stocks Fast Growth Stock Alerts - Explosive earnings growth Autocar Professional ‘Taken advantage of’: Real estate agent ripped off friends, church, and federal government - WSOC TV New Hampshire the latest state to ban right-to-list agreements Real Estate News by RealEstateNews.com July Economist Snapshot: What Will the Big Beautiful Bill Mean for Commercial Real Estate and Housing? Urban Land Magazine Top Stocks for Real Estate Investment Premium Investor Signals - High-velocity capital appreciation Autocar Professional Florida Real Estate: The Hidden Opportunity Amid Market Crash Concerns Norada Real Estate Investments Best Real Estate Stocks Group Insights For Smart Investments - Overwhelming profit margins PrintWeekIndia OT Real Estate Spotlight of the Week: 3234 KY 140 East The Owensboro Times Real estate sales for Summit and Portage counties the week of May 27, 2025 Akron Beacon Journal Why these homeowners say the 15-year mortgage is the most underrated offering in real estate right now MarketWatch Is Wheeler Real Estate Investment Trust Inc. a good long term investment - Rapid-fire capital growth PrintWeekIndia A New Perspective: Here Comes the Groom | Real Estate Insights Piedmont Exedra RNR Real Estate Briefs – Texas & More Realty News Report ‘Making more money than ever before’: Las Vegas real estate agents using loopholes to charge higher commissions Las Vegas Review-Journal Real estate transfers: 7/16 Toledo Blade How much did that house sell for? Deed transfers in Ocala/Marion: May 19-25, 2025 - Ocala StarBanner Top Stocks for Real Estate Investment Free Market Trend Analysis - High-profit stock alerts Autocar Professional Top Stocks for Real Estate Investment AI Stock Forecasts - Free Investment Case Studies Autocar Professional Bitcoin Is Draining The Value Out Of Real Estate Bitcoin Magazine Top Stocks for Real Estate Investment Free Market Trend Analysis - Lightning-fast capital gains PrintWeekIndia Founding Father John Hancock's home is on the real estate market in Boston. Take a look The Patriot Ledger Eric Adams Is Raking It in From Big Real Estate New York Magazine Real estate sales in Peoria, Tazewell and Woodford counties for July 19, 2025 Peoria Journal Star Best Real Estate Stocks Trusted Expert Guidance - Overwhelming financial success Autocar Professional Top Real Estate Stocks Fast Growth Stock Alerts - Phenomenal capital gains Autocar Professional Mediterranean-style mansion in The Woodlands among priciest home sales week of July 6 (PHOTOS) The Business Journals Real Estate’s Big Gains From AI Morgan Stanley New Valley mansion near Billionaire's Row lists for $13.5M The Business Journals Best Real Estate Stocks Expert Backed Stock Investments - Superior portfolio returns Autocar Professional HGTV’s Egypt Sherrod Shares Cryptic Message After ‘Married to Real Estate’ Cancellation tvinsider.com Scammed, Shamed and Deepfaked: Real Estate Agents Speak Out on the $15M Crypto Con National Association of REALTORS® Best Real Estate Stocks Smart Trading Moves - Explosive earning power Autocar Professional Best Real Estate Stocks in India Low Risk Stock Investments - Superior portfolio returns Autocar Professional |
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