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Updated over 3 years ago on . Most recent reply

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Elaine Lee
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How to reply realtor's question(s) related to loans?

Elaine Lee
Posted

I'm new to real estate investing. When I reached out to realtors, they always ask me to check how much loan I can get, is it expected? I am a little bit concerned that if realtors know I could finance at certain number, wouldn't they be less likely to bring me the deals that is much less than that number? 

Another question is that, I contacted several realtors, and some asked me to reach out to their team members who help clients figure out loan limit. Should I go to a bank to figure out the loan limit myself or work with realtor's team members? (I have not signed any contract with these realtors yet, but it seems like working with their team members for loan limit is a prerequisite). 

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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
30,216
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied

There is no reason a realtor would believe you could afford a home that costs one single dollar unless a lender tells them you can afford the $1 house. 

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