Updated almost 10 years ago on . Most recent reply
Found a bank! Chicago!
Hello Bp!
So after obsessing over realestate over the last year I took action!
I just closed on my first property in august which is my main residence and have a goal of acquiring another property by summer 2016.
I was listening to the podcast and I got the courage to go to the banks!
After 3 banks I found the one! Its a small local bank that will lend a conventional loan at 3.7% and I only need 10% down..
The catch is I need 6 months reserves to cover my current mortgage and the future mortgage. Also I have to pay 3 points.
Forgot to mention when I went to banks I took all my paperwork and 3 deals I analyzed and woud be interested in.
Should I keep looking for banks?
Or is this a great deal?