First Deal with Bank - So many hurdles - Other options

[Stephen Neto]

I just completed my first 3 family purchase with a mortgage broker my real estate agent recommended.  I was frustrated with all the financial documents they needed to see. Here I am putting down 25% of my money, have a great credit score of 780, have a job showing good income and yet they still want to see all my other financial documents. Now the loan is via Fannie Mae so i don't know if they are stricter than most?

But I have to believe there is an easier option to get financing on investment properties when you are a good risk. 

I was told to always use other peoples money to buy real estate, well that a what I was doing.  But is there another less annoying way?

Am I looking at the wrong types of banks or is this just part of the process for any business lending you money?

Also by looking into 5 units and above and going into the commercial loan side of things, will they have have document demands or do they mainly look at current rents coming in to the property?

I wish there was a webinar or such on all financing options for investment properties.