Real Estate Broker · New York, NY · Member since 2020 · 2k+ posts · 1k+ votes
8mo
For new investors, understanding financing early is key. I think starting with these basic questions will give them a clear picture of what’s realistic and help them line up the right lender before they find their first deal.
1. What loan types are available to me? (Conventional, FHA, portfolio, private/hard money) 2. What are the typical down payment and credit requirements? 3. How long does the approval process take? 4. What are the total costs beyond principal and interest? (Taxes, insurance, PMI, closing costs) 5. Are there prepayment penalties or flexibility on paying off early? 6. What financing options are best for my strategy? (Buy-and-hold, fix-and-flip, BRRRR, etc.)