Rental Property Investor · crystal river, FL · Member since 2022 · 11 posts · 1 vote
Hi
This is my first time and want some suggestion on how i can move forward, any help will be great.
so my question is i've already found rental single family property do i need to get pre approved first see where i stand or do contract and then go for loan.
Contact your mortgage lender and see where you stand first . This will help let you know what you can afford and if you put an offer in on the home , the seller will want to be assured that you can complete the deal
Real Estate Broker · Charlotte, NC · Member since 2016 · 569 posts · 351 votes
4y
First off congrats on taking the first step and posting here on BP. You should definitely get pre-approved before submitting an offer. I would recommend getting a pre-approval from a mortgage Lender and from a local credit union to see all your options. Do a lot of research about the lender you contact and the mortgage officer. The sweet spot is a lender that knows the local market and a mortgage officer that has the experience and good reviews and does enough business to know every situation. Good luck to you!
Contact your mortgage lender and see where you stand first . This will help let you know what you can afford and if you put an offer in on the home , the seller will want to be assured that you can complete the deal
First off congrats on taking the first step and posting here on BP. You should definitely get pre-approved before submitting an offer. I would recommend getting a pre-approval from a mortgage Lender and from a local credit union to see all your options. Do a lot of research about the lender you contact and the mortgage officer. The sweet spot is a lender that knows the local market and a mortgage officer that has the experience and good reviews and does enough business to know every situation. Good luck to you!