Rental Property Financing. Should I bring Comps to the lender?

[Vincent Pelletier]

Hello BP When looking for a conventional mortgage from a local bank, would you bring Comps with you? I am still working to purchase my first investment and when talking with the lender it seems like it could reduce the amount of work that they have to do and possibly portray a higher level of character and organization on my part. Thanks for any advice Vince

[Stephanie Medellin]

@Vincent Pelletier  I suppose it couldn't hurt, but it's really not necessary.  Lenders and loan officers can easily pull comps to get an idea of property value.  Does your property have unique features not typical in your market or is it recently renovated?  If so, you should mention those things.

The lender doesn't determine the value, the appraiser will ultimately give their opinion of value.