Questions to ask small lenders
3 Replies
Cayla Walker
from Tulsa, OK
posted about 2 months ago
I am a new investor. I want to shop lenders, and I received a list of lenders from a local trusted realtor. I wanted to know what questions I should or shouldnt ask to a lender. Should I tell them I'm in investor looking for my first property? That I could like to refinance if I could? Do you give loans on the equity price not just the purchase price? Etc. Thank you for your help.
Elise Marquette
Lender from Tampa, FL
replied about 2 months ago
Yes the more you tell the lender the better they can structure your deal to make sure everything works and no unexpected surprises down the road. Be as transparent as possible
Lina Bibikov
Flipper/Rehabber from Danville KY
replied about 2 months ago
@Cayla Walker make sure to ask what debt to income ratio they require
Cayla Walker
from Tulsa, OK
replied about 1 month ago
Thank you Lina and Elise for your words of wisdom!