Where should my bank be ??

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Brandon Johnson · Answer

@David Marsceau If I were you, I would be using an FHA secured mortgage product so that I could obtain a 30 year fixed rate loan product as an owner occupant since you plan to live in the house.  You will not be able to purchase the house in an LLC though.  You can find those loans at just about any bank.  Iberia Bank is by far my favorite local bank in BR and I presume there is a branch in Lake Charles.

JD Martin · Answer

This is what I do. I have open accounts everywhere that I have used services. You can just leave a couple hundred bucks behind in most accounts without paying service charges, and it helps maintain you as a customer of the bank should you want to shop for services.

James Barnhart · Answer

I would suggest you do business with a small local bank that has just a few locations, and not one of the giant banks that don't care about you..  You can get to know the folks and receive more personalized service.   We do that, also use a credit union and we also use USAA.

Shaun R. · Answer

I know of a commercial lender in Baton Rouge whose info I could pass along, but that's at least a couple hours away from where you'll be.

Alexander Felice · Answer

Keep an account with a balance anywhere you have a loan (when possible)

for personal use I would look to internet banks, much more competitive generally.

Zachary Corum · Answer

Its been my experience that it is easier to work with a local bank in the area you are investing.  Establishing a bank account that you pay your mortgage or loans from can help make future lending from that bank a little easier.  Given your situation you could always close those accounts in the future and pay everything from one centralized location when you are back in Oregon.

Geoff Andrist · Answer

Agreed, if you can work with a local bank that is in the area of your property then normally you can use their notary services, cash checks, and even borrow a meeting room once in awhile.  Ideally find a bank in both locations (near your home and the subject property) that is a smaller regional bank.

Where should my bank be ??

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