New to Real Estate · San Antonio, TX · Member since 2020 · 7 posts · 1 vote
I am seeking a mortgage broker who also invests in San Antonio. Hopefully this will reduce the amount of leg work and credit checks for me. This will be my second rental. I intend to purchase a small multi family.
I can google but rather see if anyone on here has some experience with a good one locally. Thanks in advance.
Real Estate Agent · McAllen, TX · Member since 2017 · 382 posts · 281 votes
5y
@Latoya T. You don't necessarily need a mortgage broker that is an investor. You need one that is investor friendly! In other words, one that doesn't have to follow a bunch of rules and requisites.
I used better.com (You get a discount if you are Pro member, it used to be $1000). They did a decent job but had to do 25% down.
Guaranteed rate let me do 20% down only and were pretty investor friendly. I felt their costs were a little high but it might be just what you are looking for.
DO NOT USE: rocketmortgage or any of the big banks if you want investor friendly mortgages. If it is for your primary residence then go for it. They provide very cheap loans.
New to Real Estate · San Antonio, TX · Member since 2020 · 7 posts · 1 vote
5y
@Leopoldo Vazquez Thanks for replying. We’re you able to obtain a loan term longer than 15 years. I had better.com on the list to check but some reviews made me pause and pursue other options.