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Updated over 4 years ago,
Loan Shopping / Conventional and FHA 203k
Hi new to BP here!
I am looking to make a move in the next couple of months and need advice on how to shop for loans.
I am considering:
- Rehabbing an off-market property (Will is currently in probate - expected to be done in next 6-8 weeks. I am considering an FHA 203k or Fannie Mae homestyle loan)
- Buying a Single-family home (FHA/Conventional)
- Buying a condo (FHA/Conventional)
My question is:
What do you recommend is the best way to shop for these loans? I would like to find the best rates possible while having minimum impact on credit.
Additional questions for more clarity: Is it possible to get quoted on all of these loans from one lender? If so where?
Being that they are different types of loans, will they impact my credit more than once? Or fall under one inquiry?
Thanks Y'all,
Chris from Texas