Leigh Valley: Recommended Lenders?

Question

Hi BP experts and newbies,

I am looking to start investing in Rental Properties in the area of Leigh Valley (mostly Allentown, Bethlehem and Easton). I am on the early stages of the process so I have started with the search for lenders in the area. Are there any lenders you have worked with that you will be comfortable recommending?

Thanks!

David Ribardo · Answer

Account Closed Welcome to the forum! Assuming that you are working with an agent, I recommend you get their recommendations. Most of them have good relationships that will provide you great customer service, smooth closings, and reasonable rates.

Last year I worked with about fifteen different lenders. There are some FANTASTIC local banks, credit unions, and mortgage brokers in the area. When working with any of these I had consistently good experiences. I also had consistent issues with out of state lenders, to include: refusing to fund the loan on the closing date, not delivering documents in advance, not allowing rents / security deposits to be prorated on the closing documents, and sticking in additional fees / rate hikes just prior to closing.

The right lender depends on a few things: Are you local, or out of the area? Some community banks only lend to residents. Will you be buying in a LLC, or your own personal name?

Tom McGrew · Answer

@David Cabañero Vazquez I know a great person DM me