Recommendations for google mortgage lenders (Cashflow)

[Meti Kay]

Being that I'm a first time investor (Cashflow) I'm looking for feedback on an reputable fixed rate and where to look for the best rates.. I know traditional 30 year fixes are 4ish percent and add another point for investment.. just curious where you usually go (Tri-State NY/NJ) or if anyone ended up getting better rates online or have any recommendation.. just tying to run numbers on some cap rates and IRR on using leverage... thank you RECOMMENDATIONS PLEASE..

[Fyzl Atmar]

@Meti Kay all lenders selling to the secondary mortgage market (fannie, freddie, and ginnie) are playing with the same rate sheets. The market determines the rate and its up to your lender if they want to take it short or not. Internet Lenders generally take it a a quarter to half a point short, compared to brick and mortar mortgage brokers, and mortgage bankers generally don't take it short unless their is a past relationship and the leeway from the bank is their. But you also have to keep in mind that its not only the rate but the ease of doing business and getting qualified especially if their are tricky action items in your loan case file. Generally internet lenders like quicken and loandepot have a churn and burn model and if you don't fit it they move on rather quickly, rather than help you understand and fix to come to a lendable point you are left with unanswered calls. What I recommend is finding a lender/originator/banker build a relationship and go from there. Everyones playing with the same rates and a majority of the same products excluding private portfolio lenders. I hope this helps! If you ever have any questions please reach out, always happy to assist!