Interviewing Residential/ Commercial Lenders
I've recently secured a private lender and I've just received the funds in my account to purchase a small (2-6 unit) multi family property. I would like to speak with 5 or more lenders before I purchase a property, what are different terms and conditions I should ask for when speaking with multiple residential and commercial lenders? Should I contact local lenders at banks and credit unions in my area or should I also speak with lenders outside of my city/state?
Would recommend working with 2 or 3 different mortgage brokers that can help you out.
I would ask about any prepayment penalties, terms, funding times, origination fees, and their track record.
