Plan to rent current homes and buy new one - Loan/Refi question

Asked by Fancy That, San Jose, CA Tue May 27, 2008

Want to refi current home (plan to rent it) and procure new loan for new house. Should we use one lender to both refinance one of our current homes (keeping it to rent) and to get the new loan for buying a new property? Or can we use one lender to refi current home and a different one to get the new loan? Would it be a better "deal' for us if we approach one lender (or broker) with both? Also - is there an advantage to using a broker vs direct w/ lender?

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James Peters…, Agent, Los Gatos, CA
Sat Aug 23, 2008
I think your best option would be to use a broker. They have the option to shop multiple lenders for you for the perfect product that fits your needs. You can also shop lenders yourself. You should really find yourself a broker that has experience and the ability to close your loans quickly and recommend products depending on your situation up front. What part of the South Bay are you looking to buy?

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Debt Free Da…, , 85260
Tue May 27, 2008
You can use the same one.
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