CT Lender Referrals, please!

[Elizabeth Susan Ademi]

Hi everyone!

First time home-buyer here, planning a future with the spouse which involves them going into medical school and our need for an extra income!

Lo and behold real estate investing and landlording has peaked my interest rather than working 2 jobs! 

To the point here, I’m looking for Connecticut real estate investors referral’s for mortgage lenders and/or mortgage brokers? 

I’ll be grateful to find the best quality lenders whom will give a great price but also work efficiently and professionally. 

The goal is to get preapproved by 5 different lenders so I can learn what loans will work best for the multifamily market here in CT as my current profile is: a first-time homebuyer and an owner occupant. 

[Scott Hollister]

@Elizabeth Susan Ademi my advice is to get one to two really good referrals. Make sure that people have closed loans with the broker in and around your market. The 5 IMO is overkill, and you might rub the lender the wrong way as well. But I am all for verifying lenders before making the largest purchase of your life, so I understand the due diligence. So here is how you can back into what you want, start with the type of property you want to acquire.

First time homebuyer and owner occupant loans: 

Your best product will be the FHA, 3.5% down loan 1-4 unit loan.

Another great option for forcing equity is the FHA 203k loan where you can "bundle" in the rehab costs for the project.

Another great loan, USDA rural loan, 0% down. 

My advice: Pick the loan you want then find the lender that specializes in that product.

What bank do you belong to currently?