In-state for out-of-state lender.
3 Replies
Darren Anderson
posted about 2 months ago
Is it better to utilize a lender that is located in the state were the investment property exists, or does it matter?
Lamont Chen
Realtor from Hudson County, NJ
replied about 2 months ago
Sometimes establishing a long term relationship with a local bank may help financing future deals. If the lender is licensed to serve the area you can always go with one of the national providers as well so it depends on the rate, closing costs, and terms.
Darren Anderson
replied about 2 months ago
@Lamont Chen:
Thanks!!
Chris Mason
(Moderator) -
Lender from Oakland, CA
replied about 2 months ago
Local to the state where the real estate is at is best.