I am a first time home buyer looking to buy a duplex for my first investment. I am looking for a Mortgage Broker to help me with finding a loan but i do not know where to look find them. It dose not seem as straight forward as finding a bank. Any help would be much appreciated.
First of all, great plan of buying a income producing property as your first home. Not only will you be able to get a great interest rate and low down payment (as a first time buyer) but if you buy it right you can live cheaper than renting.
As far as finding a mortgage broker, most banks or credit unions have mortgage brokers on staff you just have to ask to talk to one. I would suggest you try the bank you currently do business with first. If that doesn't work a simple google search should turn up a few in your area. I personally prefer to work with local banks or credit unions instead of the big franchise banks.
I see you are in Scranton PA so I included it in this post as maybe it will alert some other investors in your area to recommend someone to you.
Good luck and remember that it is the loan officers job to find a good mortgage for you so if you do not like the service you are getting, try another.
@Antonio Boone Why do you prefer a broker?
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I am also in Scranton. I used a broker in stroudsburg pa. I got a great deal on a duplex and also my family used him a few years prior to that.
If you still are looking let me know and I will send you his info.
I live in the greater Scranton area and am about to do my 3rd deal with the same team. I've listed their website below. Straight and to the point people who also have experienced 203k folks on their team in the event you need to do some rehab on your new rental. Each time I've used them I've ended up with Wells Fargo which has worked out well for me.
If you have any questions I'd be happy to help.
I work for a Brokerage. We usually work off of referrals. A realtor could suggest you someone to speak with, or you could potentially google. There are so many reasons to work with a broker. They have multiple programs to choose from, can find you the best rate, can offer you more options, and very knowledgeable. Definitely something i would suggest. Best!
A good broker should help you find the best mortgage. Finding a good mortgage broker can be quite challenging, but it will help you save your money and time. I would suggest Canadalend.com , A mortgage brokerage firm, can help you regarding this.
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