Long distance investing financing Q- which location to apply in

Long distance investing financing Q- which location to apply in

Member since 2022 · 8 posts · 8 votes

Something that is very simple, but not addressed in any of the books or podcasts has me stumped: if you are investing out of state, do you apply in your home state, or at the location of the property? Thanks in advance! 



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  • Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
    2y
    Quote from @Pamela V.:

    Something that is very simple, but not addressed in any of the books or podcasts has me stumped: if you are investing out of state, do you apply in your home state, or at the location of the property? Thanks in advance! 


    Banks lend nationwide. 


  • Lender · Houston, Tx. · Member since 2023 · 91 posts · 60 votes
    2y
    Quote from @Pamela V.:

    Something that is very simple, but not addressed in any of the books or podcasts has me stumped: if you are investing out of state, do you apply in your home state, or at the location of the property? Thanks in advance! 



    Are you looking for short term date? Your lender will essentially tell you if they lend in the location of the property or not. Same goes for long-term. If you are using a non-QM (DSCR) lender, they will advise you if they have programs in that state...is it too rural etc. 
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