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Updated 12 days ago on . Most recent reply
Lender questions to ask
Hi
I am looking to buy first rental property and looking to speak with lenders. What are the questions that I should be asking lenders ? Any tips to get a better rate or deal from lender ?
Thanks
Most Popular Reply
Quote from @Praveen Kumar:
Hi
I am looking to buy first rental property and looking to speak with lenders. What are the questions that I should be asking lenders ? Any tips to get a better rate or deal from lender ?
Thanks
speaking with them does not get you a better deal. Credit score and downpayment get you the best deal.
Questions are what type of loan are you targeting? You want a DSCR or an investment loan from a traditional bank. If a DSCR then questions are prepayment penalties and other terms of the loan so you understand what you are getting into.
- Chris Seveney
