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Updated over 6 years ago on . Most recent reply

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12
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Christopher Bruno
  • Rental Property Investor
  • East Brunswick, NJ
4
Votes |
12
Posts

Lending questions for a beginner

Christopher Bruno
  • Rental Property Investor
  • East Brunswick, NJ
Posted
Good afternoon BP This is my first post and I’d like to start by saying how incredibly insightful this forum has been for me. There is so much information and so much collective experience here that I am confident that I’m in the right place. I am looking for advice regarding bank lending. I have read about all the lending options that are discussed here on the forum and my question is should I go to my bank or a bank branch near where I live to discuss lending options...I intend to invest out of state...or do I speak with a bank branch that is local to the investment? I am starting out completely new and might explore hard lending also but for now I am interested in finding out about getting pre approved. Is it better to go to a bank closer to where I live or is it better to use a bank from the town I’m investing in? I contacted a Wells Fargo that is near my house because there is a branch in the area I am looking to invest in.

Most Popular Reply

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2,383
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951
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Odie Ayaga
  • Specialist
  • Delran, NJ
951
Votes |
2,383
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Odie Ayaga
  • Specialist
  • Delran, NJ
Replied

I think you defeat the purpose of banking local to where you're investing if you do so with a national lender like Wells Fargo. Find a local lender, but find a local community lender

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