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Updated about 2 months ago on . Most recent reply
Loan Information Needed on Out of State Investing
Hello,
I am most likely going to be investing out of state but I have selected which state just yet. I'm considering several states. Is it best to obtain a loan from a local lender or a lender in my own state, where I will NOT be investing? I am assuming I should only apply for one loan approval since pulling my credit score/history will lower my credit number. Any advice appreciated.
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#3 Private Lending & Conventional Mortgage Advice Contributor
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Quote from @Anne Christensen:
Hello,
I am most likely going to be investing out of state but I have selected which state just yet. I'm considering several states. Is it best to obtain a loan from a local lender or a lender in my own state, where I will NOT be investing? I am assuming I should only apply for one loan approval since pulling my credit score/history will lower my credit number. Any advice appreciated.
Best bet is likely (not absolute - everyone's situation is different) is to look at a national lender or broker that has options in lots of states - its a great development versus 20 odd years ago, with technology, internet, places like this - can have access to many more options than before (local broker or lender thats it)