Mortgage Brokers in Charlotte NC

[Christopher Scott Emory II]

I am looking for a good investment mortgage broker in the Charlottle area that could help finance my first investment purchase. 

Does anyone have any recommendations?

[Curtis Waters]

This will depend on how you want the deed titled. If you don't mind having the deed in your personal name, you can get financing based on your personal credit & debt to income ratio with no more than 5% down. If you plan on taking ownership through an LLC, you will use a commercial lender. Usually 20% down with a requirement that rents are 30% above your monthly payment (if rent is $1300/month then payment can't exceed $1000/month). Your interest rate on a commercial loan will be about 1-2 points higher than a loan taken in your name.

Keep in mind that you might have significant personal debt that would keep you from buying more property in your personal name. Taking ownership in your LLC offers some asset protection & allows you to qualify for a commercial loan/mortgage based on rent coverage. Personal loans are subject to Fannie Mae guidelines which limit your debt to income ratios and the number of loans in your name.

I can recommend good lenders for either scenario.