All Forum Posts by: Vanessa Ivonne Hernandez

Be ready to answer the following when you talk to a lender:

1. Will you be the only person on the loan?

2. What's causing the need or want for this transaction?

3. What's the most important part of the transaction (rate, monthly payment, closing costs)?

4. What's your desired price point? 

5. How much do you have budgeted for downpayment and closing costs?

6. Will this be your primary residence? Investment?

7. How much do you own in your 1st mortgage?

8. What type of loan are you interested in? Are there any overlays?

9. To the best of your knowledge, your current credit score?

10. Do you need to use equity from the 1st property to financed this deal?

Then when you're ready, prepare for a soft pull that will not hurt your credit score. Good luck!

1. What are your general lending guidelines? Do you have any overlays?

2. Do you finance deals like mine in my area?

3. How many loans like mine have you closed in the last 90 days? FHA, 203k, refi, VA, 2nd mortgage, HELOC, vacation homes?

4. What are your loan products and programs?

5. I have a unique situation (e.g entrepreneurship, bankruptcy), will that be an issues? If so, how can we address it?

6. Do you require cash reserves? If so, how much?

7. What hours do you work? Do you work on weekends?

8. What is your preferred method of communication? (Office number, cell, text, regular email, secured email, in-person)

9. What's today's interest rate? How much is it to lock that rate?

10. Do you own investment properties?

I like to take note of how they respond when I ask questions like these. Are they problem focused or solution oriented? Do they see opportunities within your area or do they use generic responses like "the market is crazy"?

Good luck brother, happy hunting!

I'm curious why your journey has been tough. Will it help you to talk about it? Dm me

Awesome, welcome! My journey went in the reverse - I started investing then decided to build a career in mortgages LOL

Welcome! I'm glad you're taking the next step because if other people can build wealth then why not us, right? 

Maybe I'll see you at a networking event. I'm going to a professionals/investors event in April in NJ. 

Good luck on your journey!

I use the meetup app to find nearby networking groups with other real estate professionals and investors. You search by your interest and location, and you're all set. 

I joined 3 groups in NJ. (DM me if you want my thoughts)

Good luck on your investment journey!

More details are needed, I'll message you

Awesome, same! It's so helpful to have the information organized and stored together. Take care!

Hi Laura, I'm a new mortgage broker and I'm learning the industry. It would be great practice for me to give your a free second opinion for your mortgage loan. Stay blessed and good luck on your journey!

I'll be happy to share what I use when evaluating rental properties. DM me. Good luck on your journey!