Lender questions to ask

[Praveen Kumar]

Hi 

I am looking to buy first rental property and looking to speak with lenders. What are the questions that I should be asking lenders ? Any tips to get a better rate or deal from lender ? 

Thanks 

[Chris Seveney]

Quote from @Praveen Kumar:

Hi 

I am looking to buy first rental property and looking to speak with lenders. What are the questions that I should be asking lenders ? Any tips to get a better rate or deal from lender ? 

Thanks 

 speaking with them does not get you a better deal. Credit score and downpayment get you the best deal. 

Questions are what type of loan are you targeting? You want a DSCR or an investment loan from a traditional bank. If a DSCR then questions are prepayment penalties and other terms of the loan so you understand what you are getting into.