Looking for local Denver area lender.

[John Smith]

Good afternoon BP. 

I am looking at making a move on my first investor property but wanted to get pre-approved etc. I saw a good post with a list of a few good local lenders but I have been unable to track it down again. If someone would be so kind as to point me in the right direction for someone or some bank/Credit Union that offers good terms or might even specialize in working with investors that would be great. Looking for a small loan for my first buy to get my feet wet and to establish myself

Thanks,

John

[Bill S.]

@John Smith so a couple of thoughts. Typically the local lenders are the resource for people working outside of the Fannie/Freddie box. That means you have more than 10 loans or are buying a property that would  not qualify for those types of loans. Properties like condos in a complex where a large percentage of them are owned by investors (non-warrantable). Properties that have 5 or more units.

If you are "in the box" (less than 10 loans, stable w2 income, adequate down payment, suitable property) the best approach IMO is a mortgage broker that has a significant portion of their business in the investor segment. If you don't know the difference between a bank and mortgage broker do some searching using the tool in the upper right hand corner.

If you don't have the job and/or down payment it's going to be tough to get a loan from any source other than hard money.

So to narrow your search, target it toward what exactly you are buying and you will likely find what you are looking for.