Drexel Hill, PA · Member since 2016 · 35 posts · 11 votes
So I feel that I'm truly ready to start house hunting (duplex - triplex, looking to house hack). I have a little over $12,000 cash saved, got my credit score in the high 700s, and my credit card is pretty much paid off; only $1,000 left which I will have taken care of in the next 2 months. So I'm wondering if anyone can give me advice / recommendations on which credit unions or even community banks to look into. I sat down with Wells Fargo and the guy seemed very helpful but I like the flexibly of a credit union and the fact that they don't sell off my loan. I also sat down with Citadel not too long ago and they seem pretty good but I was wondering if anyone can give me any input to consider. Thanks in advance!
Investor · Allentown, PA · Member since 2017 · 20 posts · 15 votes
9y
@Stephanie Knox - Congratulations on being prepared to take the dive into real estate investing! I would do a quick internet search for CU's in your area and take a couple hours on the weekend to visit a few. Instead of going in and asking for their business you should conduct the interview as to why they should lend to you. Make sure you have your financial details in order (which it seems like you do) and don't be afraid to ask them to do better than another lender. After all, you are the potential customer and loan officers want to sell loans! When you find the best fit make sure to develop the relationship with the bank so when you are ready to grow you have a place with a positive track record. Good luck!