Welcome!

By registering with us, you'll be able to discuss, share and private message with other members of our community.

SignUp Now!

What is the best way to find a good broker?

MattReno

Inspired Forum Member
Registered
Joined
Aug 10, 2017
Messages
30
I’m in a small town in rural Saskatchewan so what is the best way to go about finding a broker to work with me to find lenders on some rental properties?

Thanks in advance!
 

Thomas Beyer

0
REIN Member
Joined
Aug 30, 2007
Messages
13,881
It matters less where you live or where the properties are.

Find a (mortgage, as opposed to real estate) broker that specializes in rental properties ie investment properties. Several blog here.

You need decent 2-3 year tax filings with a decent line 150, clean NOAs and a decent credit score to get good mortgages. Do you qualify here on all 3 counts ?

Many self employed folks do not and then it is very hard to get good mortgages. You need to go to B lenders, who lend at far higher rates and/or lower LTVs.
 
Top Bottom