Skip to content
Two investors reviewing resources on a laptop

Get industry-leading resources — for free

Unlock resources for every investing strategy and stage with a free account.

By continuing, you agree to BiggerPockets LLC's Terms of Use and Privacy Policy

Followed Discussions Followed Categories Followed People Followed Locations
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

234
Posts
44
Votes
Mak J.
44
Votes |
234
Posts

Finding Lenders- Mortgage brokers vs going to banks directly

Mak J.
Posted

What's the best way to find lenders to get preapproved? Mortgage brokers? or go to credit unions directly? I am in Houston TX and any suggestion would be welcomed!

Most Popular Reply

User Stats

182
Posts
90
Votes
Jeff Shumway
  • Lender
  • Tampa, FL
90
Votes |
182
Posts
Jeff Shumway
  • Lender
  • Tampa, FL
Replied

The trouble with credit unions is that they tend to be 9-5 salary employees whereas mortgage brokers are generally commission employees who do not get paid unless your loan closes. Guess who is going to have a greater interest in making sure you get financing?

Honestly a lot of credit unions are not equipped to deal with loans for investors either. I've seen them totally botch self employed income more times than I can count and mistakenly tell a borrower they are approved for a property. Once they get into underwriting the whole deal then falls apart. 

Loading replies...