Just like anything in life, you get more by knowing more. Knowledge is power in every industry, especially in real estate investing. Knowing the right people will always give you success. Another avenue of success is by having a knowledge of the process and selecting the right option for you.
BROKER VS. THE BANK
Typically, a mortgage broker offers more types of financing than traditional banks. While the bank can only offer loan programs from their institution, the mortgage broker represents a number of banks and other lenders, which results in more financing options for the borrower. Even though brokers have more options to meet your needs, we recommend that you start looking for financing at the bank first. While their options are more limited, if they have an option that meets your needs you will save money because banks can offer financing with cheaper initializing costs than the broker.
This may sound funny, but you need to make sure your loan officer qualifies for your business. The fact is all loan officers are not created equal. You need to make sure that your loan officer is very experienced and up-to-date on the different types of financing...
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