New investor here in the early stages of securing a mortgage for a MF on the north side of Chicago. Thought I would reach out to the community and see if anyone has any recommendations for direct/big bank lenders and/or credit unions that are good to work with in the sense that they have low fees and are easy to work with. Following some research that suggested that I get pre-approved by a credit union, mortgage broker, and direct lender/big bank to see which would be the best for my circumstances and goals.
Any recommendations and/or advice would be greatly appreciated. Thanks!
Real Estate Broker · 3412 S. Harlem Avenue Riverside, IL 60546 · Member since 2015 · 6k+ posts · 5k+ votes
3y
@Jeff Davis what kind of financing are you looking to get? FHA? Conventional? Portfolio/commercial? That will make the biggest difference. If you are looking for an FHA, VA, or conventional, then I would talk to my guy @Joshua Jones with Loan Depot.
If you need something beyond that, then the credit unions and small local banks can be good. They will have a tight box you have to fit in, but if you fit you are good.
Real Estate Broker · 3412 S. Harlem Avenue Riverside, IL 60546 · Member since 2015 · 6k+ posts · 5k+ votes
3y
@Jeff Davis what kind of financing are you looking to get? FHA? Conventional? Portfolio/commercial? That will make the biggest difference. If you are looking for an FHA, VA, or conventional, then I would talk to my guy @Joshua Jones with Loan Depot.
If you need something beyond that, then the credit unions and small local banks can be good. They will have a tight box you have to fit in, but if you fit you are good.
@Jeff Davis what kind of financing are you looking to get? FHA? Conventional? Portfolio/commercial? That will make the biggest difference. If you are looking for an FHA, VA, or conventional, then I would talk to my guy @Joshua Jones with Loan Depot.
If you need something beyond that, then the credit unions and small local banks can be good. They will have a tight box you have to fit in, but if you fit you are good.
@John Warren - Thanks for the recommendation! We are looking for FHA financing. Will take a look and learn more about Josh.