Conventional lending - how to get started.

[Jerry Padilla]

hi, I am a loan officer for a national lender - Cole Taylor Mortgage

When you are interested in purchasing investment property's the first thing you need to do is decide what type of investment do you want? Buy and hold , fix and Flip?

You then need to decide how you are going to pay for this? Conventional versus private money.

If you are able to obtain conventional financing than that is the way to go! Rates are lower, terms are longer and in the end you walk away with more money in your pocket!

Almost always, you need to have a down payment with both types. You can get away the least amount of money down if you purchase a mult-family residence that you will also occupy yourself.

In all reality it is a win win situation- you get to test the waters with investing with a low down payment and practically no out if pocket mortgage payments if you choose the right investment!

Contact me anytime with questions or to run scenerios by me or to just get started with your investing!