Updated about 5 years ago on . Most recent reply
Finding a portfolio lender
Hey everyone!
I'm looking to get my first deal underway, and what better place to start than with getting pre-approved for a mortgage loan.
I've read that one issue people have is getting more than 5-10 loans at a time. (I'm assuming this is from bigger banks like chase, wells fargo ect). But a workaround for this is to get paired up with a portfolio lender.
Are these portfolio lenders just small banks that need to do loans in order to make money? What are the pros and cons of going with a smaller bank to do loans (aside from the obvious number of loans that you can get)
Your feedback is much appreciated!
-Aaron