South Florida Loan Pre-Approval Letter
5 Replies
Veronica Joubert
Attorney from Washington, DC
posted 4 months ago
Hello! I'm a newbie investor, and this is my first post! I live in DC but I want to start investing in South Florida because my dad is a GC here and is going to do my rehab. I'm looking to either BRRRR or flip a couple homes until I have the cash for a BRRRR.
I understand that it is beneficial to have a loan pre approval letter before starting this process and making offers. I was wondering if anyone had any good tips for getting a pre-approval letters in south florida?
thanks!
Raymond J. Rodrigues
Lender from Miami, FL
replied 4 months ago
@Veronica Joubert , nice to meet you, fellow local here to the state of Florida, particularly South Florida. Welcome to Biggerpockets!
When you say pre-approval letter, what type of financing are you seeking?
Veronica Joubert
Attorney from Washington, DC
replied 4 months ago
@Raymond J. Rodrigues thanks! I’m seeking local lender hard money financing.
Malgorzata Sadowska
Real Estate Agent from Miami, FL
replied 4 months ago
Dear Veronica: feel free to message (know lots of HMLs down here).
Raymond J. Rodrigues
Lender from Miami, FL
replied 4 months ago
@Veronica Joubert let’s tackle some Real Estate together :)
Louis Jeffries
Lender from Chicago, IL
replied 4 months ago
@Veronica Joubert Hi Veronica as a lender we require proof of assets (recent bank statement) and we verify credit and experience. Based on these three factors we can pre approve and or prequalify you for funding. Any good lender would verify these points. Depending on the program (like our 100% financing option) you may need to verify income but that is rare.
Beyond a pre approval letter you want to know the program, term, rate, ltv, and costs.