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I am looking to buy property for investment purposes. Should I use a bank or a broker?

by lisa789 from Pembroke, Virginia. Jul 22nd 2016 Reply


Broker. We have many lenders and many options as opposed to a lender who only works with 1 investor. Plus brokers generally have better rates and lower fees. Email me if I can help. Sdrilling@myeaglelending.com

Jul 22nd 2016
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Scott Fix (ScottFix)
#1325 ranked lender in California - 184 contributions

I would use a local broker in Pembroke who has a reputation for great client service. Brokers routinely can shop the loan to several lenders and find great rates. Look at the fees being charged as well. A quickie explanation is seen at http://www.bankrate.com/finance/mortgages/apr-and-interest-rate.aspx All the best, Scott.

Jul 22nd 2016
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David Ortega (DavidOrtega)
#54 ranked lender in Minnesota - 220 contributions

A mortgage broker will generally give you the best rate and product option. Additionally, their service levels are generally superior to a banker. Bankers do not have to complete as much to get a license and will most likely not be able to provide a full, Certified Mortgage plan as they do not have nearly as much product knowledge.

Jul 24th 2016
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Lorne Harvey (lorneharvey)
#1 ranked lender in Washington - 418 contributions

I would see out a mortgage lender who has a solid reputation of closing loans. One of the best sources is to ask the local realtors who they recommend.

Jul 25th 2016
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