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Updated over 4 years ago on . Most recent reply

Matt Lopez's profile image
Matt Lopez's profile image
Matt Lopez
  • Member since Nov 10, 2020
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Matt Lopez's profile image
Matt Lopez's profile image
Matt Lopez
  • Member since Nov 10, 2020
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Matt Lopez
1
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10
Posts
Starting Out

Finding a lender for long distance investment

Matt Lopez
Posted

I am interested in investing in out of state rental property and had a question on finding a lender. Am I required to find a lender in the state I’d like to invest in or am I able to use a local lender? Anyone familiar with the pros and cons of each?

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Erica Larence-Penna's profile image
Erica Larence-Penna's profile image
Erica Larence-Penna
  • Attorney
  • from Rhode Island
  • Member since Apr 28, 2019
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Erica Larence-Penna's profile image
Erica Larence-Penna's profile image
Erica Larence-Penna
  • Attorney
  • from Rhode Island
  • Member since Apr 28, 2019
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Erica Larence-Penna
  • Attorney
  • Rhode Island
90
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152
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Erica Larence-Penna
  • Attorney
  • Rhode Island
Replied

@Matt Lopez you are not required to use a lender who is physically in the state you are purchasing, but you need to use one licensed there.  I highly recommend getting pre-qualified or pre-approved with a lender who is licensed nationally.  @Elise Marquette is awesome and is licensed in 48 states!

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