Can anyone suggest a good mortgage company that works nationwide?

Hello,
I'm looking for referrals on reputalble lenders who will help me obtain a loan. Most of the brokers or lenders whom I spoken with are offering high rates, second mortgage, 6 months reserves or just not calling back.
I'm looking to obtain a loan for an investment property in Georgia. So, if a lender or broker can work with my student loans, FICO Score 653 and can CALL BACK please respond.

Countrywide for sure, but don't expect a low rate on investment property with a 653 fico.

Did you try Countrywide? I've never dealt with them but they're supposed to have a good reputation.

I have had good success with Countrywide and also with the online outfit, LendingTree.com.
Best wishes

countrywide

The problem is not getting a reputable mortgage company that wll give you a loan. You have to look at the transaction that you are trying to accomplish.

I want to say that you are on the correct investment route in investing in properties.

Now let's see what we can do about the situation you are in.

#1 You are attempting to purchase a non-owner occuppied property

#2 Your credit score is not exactly leaping of the chart saying "I have the best credit score in the nation."

The above are two challenges that the mortgage broker has to overcome.

It does not matter what broker or mortgage company you get your mortgage through. Before the loan is a day old it will be sold to some other mortgage company, maybe to someone you consider good or maybe someone you think is bad.

You should call a mortgage broker and explain the situation to him. You should also explain to him what type of mortgage you would like to have.

You should fill out an application so the mortgage broker can run a credit check. Now remember this is a business transaction so keep personalities out of it. Listen to what this person tells you after he has ran your credit, got your credit scores and looked at your application in it's entirety and especially how you have paid your debts in the past. If you have student loan problems this is another hit against your credit as well as your credit score.

Some of the mortgage you want you might not be qualified for. Get the next best thing. This is the way business is conducted. Now you might be qualified for a 3/27 or a 2/28. These are fixed rate loans for the number of years that appear first.

Based on your credit score this might be the best way to travel for 2-3 years until your credit scores are a bit better.

Make your mortgage payments on time and you will increase them your credit scores, even if they are not increased if your mortgage has been paid as agreed for 24 months you can get a refinance to an excellent rate.

Now if this is a business you plan to pursue, you will find that not all things are going to go your way especially when the people you are dealing with have to go by the guidelines they have to live within.

Having a good rate is ok, but not the only consideration in a real estate transaction. Getting the project is the most important. Remember that the interest rate and most points and fees are tax deductable. There are other tax advantages also to owning an investment property. (check with your tax advisor for tax advice)

You are there to accomplish what you want to do and that is purchase an investment property. So take the necessary steps to get what you want accomplished. So find a mortgage broker that you feel comfortable with and get this transaction done before whoever is selling the property find another buyer.

I hope this has been of some use to you, good luck.

"FIGHT ON"

Obviously there are issues with your situation. If you are willing to provide (or run) your 3 bureau credit report and a complete application, we will be happy to take a look and give you an honest answer.

I can help you out, I work for a large mortgage company that lends in georgia. If you are still looking for a loan you can contact me at amtarighat@ionfunding.com