Updated almost 9 years ago on . Most recent reply
running into loan issues
hey fellow pocketers,
So I'm finaly prepared to purchase my first investment rental property (out of state) i found a state i like and am familiar with see a few 2 families that i like.
Long story less long i go to chase to try to figure out my ball park range and they told me a lot less than i anticipated. Because they want 25% down and 6 months in reserves. Now I'm kind of in a hump should i adjust and pick a different state one that i can afford? Or would a local bank in that state possibly loan more? Just looking for options.
Most Popular Reply
Always shop around. A lot of people like to go to the big box banks and get the same response. Start with local lenders, credit unions, smaller lenders.