How to request a loan from a bank to purchase a home.

[Juan Alvarez]

Hello, I am fairly new to real estate investing. I have been doing a lot of reading and listening to Podcast, but the most simplistic questions are not being answered. 1. Do you speak to a lender (bank) to check and see if you pre qualify for a loan before you even start looking to purchase a protety? 2.HOW ARE CLOSING COST CALCULATED? 3. CAN I MAKE AN OFFER TO An AGENT IR HOMEOWNER AND THEN SPEAK WITH A LENDER? I APOLOGIZE FOR THE CAPS. MY KEYBOARD IS ACTING WEIRD. THANK YoU, JUAN A.

[Sammy G.]

@Juan Alvarez get your prequalified letter first, you can get this from your existing bank who you bank with or just find a mortgage broker. An agent will want to see your prequal before writing offers. Closing costs are different from lender to lender. If it’s traditional mortgage costs maybe similar, however if it’s hard money or local bank they make be higher because the service the loan themselves.