Any suggestion on how to obtain mortgage?

Question

Is it better to stick with banks go through 3rd party ?

Do I need to provide SSN for a mortgage estimate.

Thanks

Erik Estrada · Answer

I only advise going direct if you have a large portfolio or do similar acquisitions and your lender already knows your profile. Even then, many clients end up finding themselves working with a broker since lenders can change their guidelines, pricing, and terms etc.. at any moments notice. You need a broker that can pivot in times of change.

Erik Estrada · Answer

For a mortgage estimate, you do not need to provide an SSN.

3rd party broker is always the best since many direct lenders have different guidelines. You need someone that knows the ins and outs and can point you in the right direction.

Mohammed Rahman · Answer

Hey @John Smith - you've asked a very broad question, but yes generally you need to provide a SSN.

There are some "no doc" loans out there that investors or other folks use, but the tradeoff is that the rate ends up being higher than conventional loans.

Devin Peterson · Answer

Hi “John” - this is a very broad question. Any bank and Olander is going to ask you information about yourself and investment experience. What type of mortgage are you looking to obtain?

Theresa Harris · Answer

Start with the bank you normally deal with.  You could also talk to a mortgage broker as they will shop around a bit.