All Forum Posts by: Maurice Johnson

Hello BP, I’m looking to get preapproved then get a mortgage for a primary residence I plan on buying. I am facing some grey areas when it comes to whom I want to preapprove me and originate my loan. I want to make the best decision in this area for a favorable financial outcome, whereas I’m finding some professionals are more so looking for a quick sale. It is my understanding that using an independent mortgage broker is beneficial in the following ways…

• They shop your credentials to many (up to 30) different lenders to get you the best rate
• Lenders will give them (the broker) a better rate than they would give you if you walked in and applied yourself
• Mortgage brokers are paid by the lender and in most cases are free to you

Are these points accurate BP? Is there something I am missing?

I am looking in the North Jersey area, if there are any investors in North Jersey that have done business with mortgage brokers in the past and would refer please do! All feedback is appreciated I’m all ears!

Hello BP, I’m looking to get preapproved then get a mortgage for a primary residence I plan on buying. I am facing some grey areas when it comes to whom I want to preapprove me and originate my loan. I want to make the best decision in this area for a favorable financial outcome, whereas I’m finding some professionals are more so looking for a quick sale. It is my understanding that using an independent mortgage broker is beneficial in the following ways…

• They shop your credentials to many (up to 30) different lenders to get you the best rate
• Lenders will give them (the broker) a better rate than they would give you if you walked in and applied yourself
• Mortgage brokers are paid by the lender and in most cases are free to you

Are these points accurate BP? Is there something I am missing?

I am looking in the North Jersey area, if there are any investors in North Jersey that have done business with mortgage brokers in the past and would refer please do! All feedback is appreciated I’m all ears!

Johnathan Boyle your right, I will vet a few mortgage brokers in my area first and choose one. Do you have any recommendations? Thanks.

Thanks I will check her out!

Hey BP, I am looking to purchase my first property this summer. I am in the market for a 2-3 family home in the Morris and Passaic county area. I will owner occupy it and rent the remaining units. I have my financials in order and am ready to get pre-approved by a lender at anytime. Before I do that I am looking to get linked up with a good real estate agent that is investor minded. I'm beginning to look for the all the pieces to my puzzle, but I am new to this game and do not have all the connection I would like to have yet. Are there any stand out agents that anyone would recommend? How about any real estate meet ups or groups that are active in the North Jersey area? All feedback is appreciated!

Hey BP, I am looking to purchase my first property this summer. I am in the market for a 2-3 family home in the Morris and Passaic county area. I will owner occupy it and rent the remaining units. I have my financials in order and am ready to get pre-approved by a lender at anytime. Before I do that I am looking to get linked up with a good real estate agent that is investor minded. I'm beginning to look for the all the pieces to my puzzle, but I am new to this game and do not have all the connection I would like to have yet. Are there any stand out agents that anyone would recommend? How about any real estate meet ups or groups that are active in the North Jersey area? All feedback is appreciated!

Thanks everyone for the feedback. Yes, I see how the agent would be best to come first now. That being said the legal personnel would have to be selected soon after because if a deal comes my way and I have no legal representation in mind, I'll have to settle for what is available on short notice. @Mike Cumbie that is a good point. Once the agent is selected, he/she may have a great attorney or title company they like working with.  Great feedback!

Hey BP community, I'm looking to buy my first primary residence. Which is harder and more time consuming to find, the right real estate agent or the right real estate attorney?

Yes this sounds like a great idea, I plan on doing just about the same thing for my first property. Questions to consider.. is your unit going to be habitable within the first 60 days as FHA requires you to move in by then? Also is the other unit occupied already? If so then how do you do repairs/renovations to that side while someone is living there?