Our commercial banker is willing to do a loan at a good rate up to 75% LTV.

I am interested in purchasing SFR(s) to rent, and I have heard conflicting things about whether I should seek out real estate agents or bankers first.One thing I've heard is that I need to get pre-approved before I go talk to real estate agents or they won't want to "waste time" with me.The other advice I heard is to find a good real estate agent who works with investors and then get their recommendation for some good bankers to deal with.Which makes more sense?

Even though the cash flows of these properties are enough to pay interest and principal on the debt, their values have fallen so far that borrowers won't be able to extend existing mortgages or replace them with new debt.The very first task of a Banker is to do all he can to turn a bad loan into a good loan.

The banking system of today is really not made for tiny bankers which is why they get bought up in large numbers by larger regionals.

If the house has equity you can take a home equity loan out to have down payment for another property..ask your banker about financing options for yourself.

I work with a few great mortgage bankers in the Bronx and Lower Westchester.

@Kristina Concord Did the banker include the rental income from the other unit in your approval?

So I was depending on the rents to to increase my approval amount.If this is the case should I find another banker and if I do how do I go about it without running my credit multiple times, further bringing my fico down?

I think you ought to simply start out by talking to your banker and see if what you're wanting to do is even an option with your banks inside regulations with the amount of equity you may or may not (think you) have.

I haven't spoken with my banker yet, but want to be informed before I go in looking uninformed.