How are you shopping for lenders? Whenever I speak to one, they say they can't give me any quote without pulling credit. I'd rather not have multiple hard credit pulls to find the right lender.

My credit is 770+ and my W-2 income is strong and healthy. any advice is greatly appreciated.

Charles Adams

Cincinnati, Ohio

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Nate Herndon

Pro Member

Lender
Springfield, MO

Nate Herndon

Pro Member

Lender
Springfield, MO

Replied February 14, 2024 09:38

Hi @Charles Adams, welcome to BP! Sounds like you are well set up for your investing journey with strong credit and a good W-2 job.

From the perspective of our team here, we utilize soft credit pulls for 3-4 loan programs that have rehab and 30-year fixed financing. However, I don't require a credit pull from a borrower to give a loan quote...I can just take folks at their word for that first conversation. Those soft pulls are good for 90 days, so I love that we can get a one and done for multiple deals across a few months.

Many of my clients also have great jobs, but many are self-employed as investors. That's what makes the private lending space so great. There is no requirement for you to provide personal income, taxes, or balance your DTI with your next investment acquisition. My clients close in the name of their LLC, so the mortgage is not a tradeline on their personal credit.

Feel free to reach out with any additional questions you have, or post here for the benefit of the group. Again, welcome and what a great first post.

Nate Herndon

[email protected]

417-605-2196

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Isaiah Lopez-Torres

Rental Property Investor
Cincinnati, OH

Isaiah Lopez-Torres

Rental Property Investor
Cincinnati, OH

Replied February 15, 2024 16:43

Quote from @Charles Adams:

Hi All,

How are you shopping for lenders? Whenever I speak to one, they say they can't give me any quote without pulling credit. I'd rather not have multiple hard credit pulls to find the right lender.

My credit is 770+ and my W-2 income is strong and healthy. any advice is greatly appreciated.

Your going to want to look into mortgage brokers. They will be able to shop for you and help you find the best rate. Send me a PM and I get get you someone local to Cincy.

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