Credit score does matter but they will lend on a per property basis out of your available LOC once they approve a line...again mostly based on your available cash and credit score.

Ask for a "Pre-Underwrite" this is where the bank underwrites the file and give you a "Loan Commitment" instead of a generic "Pre-approval" letter.

You will likely need to pull out and cap the bathroom plumbing if the bathroom was not approved and remove the stove since the city is already on notice of it.

A loan commitment letter carries more weight as it confirms lender approval, signaling a stronger ability to close.Addressing Closing Concerns: A commitment letter meaningfully reduces concerns, especially when paired with proof of equity and a track record of performance, even if on smaller deals.What Brokers Look For: Key factors are a reputable lender, clear terms in the commitment, and evidence of funds for equity and reserves.

Hey Elliot, this could be more challenging to get approved as a first time investor as a first time investor.

Adding to what Greg said, there are lots of buyers who aren't pre-approved or will make an offer and then not be able to get financing wasting the seller's time.

I mention this as I have seen some people want to sue companies because they were a sponsored affiliate on a website…Regarding the original post- expect 10-12% (I think latest I saw is avg is 11.5%) rate plus atleast one point for a 12 month loan.Bigger companies may take longer for approval and can be more flexible usually in down payment amounts.

If you're licensed and acting as a fiduciary, you are required to use the TREC promulgated form or another form approved for use by TREC (ie TAR) unless the seller or buyer or their attorney requires the use of another form. 2. 

(more than likely) The rates are not locked in until final approval is given.

We are creating our partnership, getting approved for a mortgage, and then putting in offers on specific properties we like based on the analysis.