Where do I go to get a home loan as a realestate investor?

I would suggest a good mortgage Broker.

Some banks are pretty cut and dry when it comes to creative financing. A good mortgage Broker will know of and can suggest products that will work best in your situation. They even have access to private lenders.

Meet with one and see what they say, it doesn't cost anything to have them qualify you.

Go to YOUR bank or credit union. Thats probably the best place to start.

If you're asking, I'm guessing you're new to real estate investing. Do you have money to put down? The market for 100% investor financing is disappearing very, very quickly. But if you have at least 20% to put down and your credit is good, you should shop for an investor mortgage just like you would for any other mortgage. If you don't have the down payment money, now might not be the right time for you to invest.

But assuming you are ready, here are the steps: Check at least three and up to seven sources. While your credit score should not be hurt by this, it is still a good idea to only let the first company pull your credit and then get quotes from the others based upon that score. Once you've narrowed down to a couple lenders, let them pull credit and come up with more concrete offers.

Check with at least one mortgage banker (lends its own money), one broker, and a credit union or bank. Ask for various options. (Loan types, no-fee with a higher rate, points with a lower rate, etc.) Get a Good Faith Estimate from each lender for each program and then compare the terms for each. Aviod the people on the internet who shop your loan around. They get paid by having the lenders/brokers jack up the price on you. You'll do better contacting the lenders and brokers directly.

Don't be afraid to shop around. I just lowered my rate 1.00% from the first quote to loan closing by calling around and letting everyone know I was shopping.

I would suggest going to a mortgage broker. They don't work with any specific lending institution and will do their best to get you the best rate and best terms from whoever is willing to give them.

Most don't charge, as they get paid through the lender, so be wary of those who want money from you. They will shop you around to all the lenders they know (sometimes 20-30) and save you the legwork.

Also, they only do one credit check on you, whereas if you go to 5 banks, each will do their own. And when the 5th bank sees 4 previous credit checks, they wonder what you are up to. They don't think of you comparison shopping, they think the other 4 said no to you and they are now much more likely to turn you down.

Check around for some mortgage brokers and see what they can do for you :)

Laurin Jeffrey
Jeffrey Team Real Estate
www.jeffreyteam.com