All Forum Posts by: Miranda Holland

This is happening a lot.  Lenders are finding all kinds of excuses to get out of a deal. Truth is, they don't have as much money as they want people to think they have. I sent you a PM

There are lenders who will lend you money for your 1st deal if it makes sense. The biggest hurdle for 1st time investors is coming up with the 20% down payment. I'll send you a PM 

If it's your 1st deal and you're not able to raise money from your family and friends, your best bet might be to start off working with private lending/ hard money lending companies. 

After you build a portfolio with them, you'll be more credibility to approach individuals who want to invest passively in your projects. 

I have several lenders that offer up to 80% LTV but most only qualify for 70% to 75% LTV. Property value, credit score and experience have to all fall into place to qualify for that 80% LTV.

I live in Macon, Georgia. I'll be happy to help you and  I sent you a PM

The rates I'm seeing right now in the private lending industry are around 7 to 8%.

In my opinion, the best way to get multiple loan offers is to work with a licensed mortgage broker when it comes to conventional loans and a private money broker when it comes to private and hard money loans. 

 I might be able to help you. I sent you a PM

Helocs are hard to find these days.  Helocs for investment properties are probably even harder.  Using a mortgage broker might be the most efficient way to find a lender for that 

If I were you, I would work with a licensed mortgage broker when it comes traditional banks and a private money broker if you were looking for private money to help find the loan that is best for your situation. 

It depends. Being that you're looking for a property through a realtor, chances are you will have time to find financing after you find a house.  However, it is good to already have your financing in place in case someone else is looking at the same property you're looking at.  

With that being said, check to see how long the pre-qualification is good for with each lender. If it's only good for 30 days, you might want to wait. If it's good for 6 months and you expect to find something by then, getting prequalified is a good thing