If you’re building spec homes and looking for a line of credit, both options, local banks and private lenders can work, depending on your situation.

Someone taking out a mortgage for the first time has NO history of paying a mortgage on their credit score, BUT lenders still believe the score is useful!

This is investing privately as a lender to a local investor or being LP on an investment such as a syndication.

Another downside is you loose on the advantages, of the Federal Tax Code, by not closing in the name of a LLC/ LLC taxed as an S Corp, or an S Corp.If you want to close in the name of a LLC/ LLC taxed as an S Corp, or an S Corp, Mortgage Lenders will offer you Commercial Loan Terms (25-30% down, a 15-25 year amortization, and a ballon due in 5-7 years).

Portfolio lender, they’re limited to certain counties though.

Search the forums, asking around, and talk to some lenders.

The 9-5 income can also be a bridge for you that lenders like to see to help you with your first acquisition. 

You could get the 3rd party processing fee removed by working with a broker/lender that does in house processing.Seems you're being gouged for the appraisal review and admin fee...that's ridiculous. 

Therefore, Defendants’ argument is rejected."

Need a lender who understands that clean title will only occur on the day of closing.