Good morning BP!
I am on the hunt for a mortgage broker that can look at things with a little more creativity than my current, primary residence mortgage broker. Specifically, I am trying to find a product that will allow me to count my rental income based on signed leases instead of 2 years of tax returns. I've only had the property for a few months but the record is spotless.
Do you guys have any advice on where to find an "investor-grade" mortgage broker? I live in San Antonio, Tx but do not care where they are located as long as they can get a loan funded in my area. A phone or skype relationship would be fine.
Any recommendations or referrals greatly appreciated. Thanks everyone!
mortgage broker is not going to be able to bend the underwriting guidelines unless you go to a local commercial bank or credit union were they make their own rules.. if your looking for the least expensive debt that is conforming then all brokers fish in the same pond when it comes to underwriting criteria... don't let anyone hit you with pie in the sky ask for money up front promise you the moon then not fund.. lots of that going on right now on BP
Hey Ben, see below contact info for the lender I have used for my investment property. He will not require returns, and will take into account the leases as gross income. He is based in CA.
Mortgage Loan Officer
@Tanya S. Thanks for the mention. Appreciate it.
Did you get this figured out? I may be able to help with some more information. Were these recently acquired properties?