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Updated about 5 years ago on . Most recent reply

User Stats

14
Posts
1
Votes
Brad Stafford
  • Real Estate Investor
  • Ohio
1
Votes |
14
Posts

Can't find any unfrozen lenders for 2 property deal.

Brad Stafford
  • Real Estate Investor
  • Ohio
Posted

Tried a local direct money lender, who ran my perfect credit report, and now they won't return my calls.

also tried lendingone.com, and they are currently frozen. This is my first investment deal. Anyone know of any lenders that aren't frozen? Or any other suggestions?

Most Popular Reply

User Stats

37
Posts
24
Votes
Lola Omishore
  • Investor
  • Brooklyn, NY
24
Votes |
37
Posts
Lola Omishore
  • Investor
  • Brooklyn, NY
Replied

Your best bet would be to use a mortgage broker that has access to a portfolio of hundreds of lenders and has an existing relationship with said lenders. Yes, it will cost you a brokers fee, but it saves A LOT of time and headache, trying to reach hordes of lenders that aren’t being responsive while you have a time sensitive deal on the line.

The mortgage broker would have insight on which lenders are still operating during this time, might be new provisions to qualify for a loan, but there are definitely lenders still in operation.

What kind of loan are you looking into? A conventional loan or portfolio loan?

-Lola

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