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Updated about 7 years ago on . Most recent reply

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Gregory Petrack
  • Wausau, WI
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Middle Age and just starting to invest - Loan thoughts

Gregory Petrack
  • Wausau, WI
Posted

Hi all. New member here. My wife and I are in our mid/late forties and have decided to start buying single family rental properties. Probably in the $100-$150k price range; which in our area (N. Central W) will buy a nice, 3-4 bed and 2-3 bath home, 1200-1600 sq. feet. Looking for lender ideas. We have 750+ credit scores, strong income ($285k), low DTI and 20-25% down. Looking for our first deal now. The local bank that holds our mortgage on our primary home will only do ARMs for 15-20 years on an investment property/rentals. I got approved with Quicken for 30 years, but their fees seem ridiculous (we found the same with them when we got our mortgage on our current home). Anyone have a favorite, easy to deal with lending institution they'd recommend? No hard money. Thanks.

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