Mortgage broker vs credit union, community bank
I have my first flip deal behind me and I'm looking into purchasing a new deal. With some cash on hand and still having the ability to get a loan. What what would give me the best option at receiving the best deal; should I contact a mortgage broker or speak to a community bank or credit union?
Thanks in advance for your thoughts.
Most Popular Reply
Thomas S.
#2 General Landlording & Rental Properties Contributor
#2 General Landlording & Rental Properties Contributor
I have never used financing for a flip but always rely on my broker for locating financing for a hold property.
The reality is that a broker does all the leg work for you, can probably find a better deal and will be dealing with hundreds of financers, probably including the same ones you would contact directly.
You can still approach your local bank but defiantly use a broker.