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Updated almost 8 years ago on . Most recent reply

Pre-approval Package prior to LOI?
How do I go about getting a pre-approval?
I don’t have a property under contract yet, but the idea I had is to present a minimum performance scenario. Basically agreeing with a lender that, if I find a property that produces certain numbers or better, then they’ll fund the deal post a formal inspections.
My goal is to shorten my financing contingency, & be a more attractive first time buyer.
Thanks
J
Most Popular Reply

That isn't exactly true . I have actually obtained a pre-approval letter from a commercial lender for a 10 unit multi-family that I was trying to buy a couple of months ago.