Getting started the right way?

Question

Hello all,

I am active-duty Air Force and I currently stationed at Hanscom Air Force Base in Boston. My husband is originally from Detroit and we have decided to look in the Detroit metro area for our first rental property. I hope this isn’t a redundant question, but I wonder where we should contact a mortgage loan officer/ counselor.

We are trying to get our affairs in order but are in great need of a good guidance and I thought starting with the mortgage counselor/officer would help.

Adam Tafel · Answer

@Nijha London - starting with a lending is the right way to go, you're already ahead of the curve. Most buyers want to find a property first, but the lender is the most important member of your team. Since you are new to investing I highly recommend "househacking" - getting a FHA, VA, or conventional loan and occupying a multi-family for at least 1 year.

Start with your personal sphere- if you husband is from the area he can reach out to friends and family. BP is obviously a great resource, plenty of helpful and qualified lenders within these forums.

I recommend Keller Mortgage to many of my clients- they have the lowest closing costs and best terms. You'll have to work with a KW agent to qualify. Good luck!

Drew Sygit · Answer

Contact Joe Randall with Mortgage One. You can find his contact info via Google.

He's a mortgage LO, but more importantly, also an investor so he "gets it"!

Erwin Miciano · Answer

@Nijha London If your husband is familiar or from the area you are looking in, start with an agent. Shopping for agents will help you identify a property then from there you could narrow your research on financing your property. Try to stay within the investor groups and niches, that way you're more in the loop rather than the average buyer who's looking for their dream home. Recommendations go a long way when you find the right agent.

Good Luck!

Shawn Mcenteer · Answer

@Nijha London first things first.  I thank you for playing a huge part in keeping us all safe, thank you for your services.

Being in the military you have access to amazing opportunities using VA loans.  Navy Federal Credit Union does a great job taking care of military members.  If you reach out to them they should also be able to help you out and at least point you in correct direction.

Kiera Underwood · Answer

@Nijha London Most of the investors I know work with Aaron Chapman with Security National Mortgage. He's got competitive rates, focuses on conventional investment loans and has unmatched experience. So, he's a great person to strategize with and lean on from an expertise perspective. He's also licensed in every state so he can help you wherever your portfolio takes you. Let me know if you want contact info! Good luck getting started!

Nijha London · Answer

@Kiera Underwood

We’re considering both convention loans and govt loans.

Kiera Underwood · Answer

@Nijha London are you planning on utilizing conventional lending?

Getting started the right way?

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