Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 2 years ago on . Most recent reply

User Stats

5
Posts
8
Votes
Alex L. Goodman
8
Votes |
5
Posts

First time investor and choosing lender

Alex L. Goodman
Posted

I am currently looking for my first investment property and hopeful I can get some helpful pointers to make sure this is as seamless as possible for my first investment. 


I just purchased my personal property in March and I only say that as house hacking isn’t an option. 

My current struggle is finding a lender that is first time investor friendly. Has a wealth of knowledge on loan options and can point me in a good direction. I believe a conventional loan is likely my best option, but would love to know if I’m wrong. ideally looking for someone that can give me some rough numbers that it would take to make this first purchase. 

The properties I'm looking at are both SFH and Duplexes ranging between $90-150k.

For some additional information that should be helpful. My credit score is currently 698, but varies month to month between 690 and 740. DTI is below 35%, and have a W2 job. I'm always happy to provide more info if needed.

  • Alex L. Goodman
  • Most Popular Reply

    User Stats

    5,593
    Posts
    6,584
    Votes
    Remington Lyman
    #1 Multi-Family and Apartment Investing Contributor
    • Real Estate Agent
    • Columbus, OH
    6,584
    Votes |
    5,593
    Posts
    Remington Lyman
    #1 Multi-Family and Apartment Investing Contributor
    • Real Estate Agent
    • Columbus, OH
    Replied
    Quote from @Alex L. Goodman:

    I am currently looking for my first investment property and hopeful I can get some helpful pointers to make sure this is as seamless as possible for my first investment. 


    I just purchased my personal property in March and I only say that as house hacking isn’t an option. 

    My current struggle is finding a lender that is first time investor friendly. Has a wealth of knowledge on loan options and can point me in a good direction. I believe a conventional loan is likely my best option, but would love to know if I’m wrong. ideally looking for someone that can give me some rough numbers that it would take to make this first purchase. 

    The properties I'm looking at are both SFH and Duplexes ranging between $90-150k.

    For some additional information that should be helpful. My credit score is currently 698, but varies month to month between 690 and 740. DTI is below 35%, and have a W2 job. I'm always happy to provide more info if needed.

     I would reach out to @Chris Wharton. He is a solid lender here in Columbus, Ohio

    • Remington Lyman
    business profile image
    Reafco
    5.0 stars
    12 Reviews

    Loading replies...