Hello Ron, my career field is as a mortgage broker and part time real estate investor. The main questions that you should ask to find the best brokers is to ask other investors which brokers they have used in the past and if thier experience was a positive or negative. Pay close attention to origination points (do not pay over 1 point). Remember that turn around time on a loan in processing does take a little longer for a investment property over a residential because of more through documentation from the lenders. In closing, use your best judgement and referals from other investors to find the best brokers. Goodluck!
Questions to ask mortgage broker…
I am looking to purchase my 2nd investment property. I am looking to close as quickly as possible and with out the bull that many mortgage brokers have been giving in the past.
What questions should I ask of mortgage brokers before I decide which broker I want to do business with?
Would it be better to do business with one in state or out of state?
Questions to ask mortgage broker… - Posted by JB Harmon
Posted by JB Harmon on January 17, 2004 at 18:36:58:
I’m also an investor with a question. I was told that if I made my first mortgage payment at closing my loan will go to 12yrs. vs. 30yrs. Based on the fact that the interest would not be applied in the arrears. Is this true?