To Investor:
You should not utilize a mortgage broker but instead you should go directly to a bank. Many lenders like myself have the ability to broker as well. What we do at RHF is provide lending directly from our own funds but in your instance we would utilize our investors and broker your particular loan to a Portfolio Lender. A portfolio lender does not sell their loans. Like Chris suggested HSBC is a portfolio lender so they would be an option. The advantage of working with a correspondent lender is I have the ability to look at various investors whereas HSBC is limited to there own products they offer. All lenders for the most part offer 30 Year Fixed Rate mortgages. Call me to discuss further. Peter Brown 914-202-4861 or pbrown@rhfunding.com

If you would like assistance, my name is John and I can be reached at 212-714-1027 ext 11. Thank you and good luck.

Answer #1 - Brokers send their loans to banks and cannot speak to the appraiser or underwriter. The bank makes the final decision to approve or deny your loan. It may be unfortunate but many large banks have ceased dealing with mortgage brokers.
#2 - 30 yr Fixed Rate Mortgage is common when purchasing an investment property.
#3 - I'm a banker. My thought is that you live outside the US. My suggestions are (1) that you find a Real Estate Agent in the area of Manhattan in which you are interested in purchasing and (2) you find a bank that has branches in your country and ours. Get pre-qualified for this purchase and share this document with your Realtor. HSBC is known as the "Worlds Bank". I work for them and we do many loans for foreign nationals.

Many of the big banks such as Chase, Wells Fargo, Citi are very picky with their loans and only want the best loans... Unfortunately even though you are putting a large down payment they still see it as a high risk. Your best bet is to use a direct lender like myself since they aren't as stringent. If you would like help with this property feel free to reach me directly at (347) 242-1206.

Dear Home Buyer,

You should always start by talking to a couple of the major banks (B of A, Chase, Wells Fargo) to get the "lay of the land"--their rates will most likely be the most favorable IF they approve the loan. If they do not offer financing, your next step is going to a bank like HSBC who have parts of their loan portfolio in house and where they are able to make decisions based on what makes sense to that specific bank (not to Fanny or Freddie).

You can also go directly to a mortgage broker as they have contacts with a lot of different banks and can help you find a loan that suits your needs. If your situation is unusual this is most likely the best option, and many mortgage brokers can truly work magic!

Today, it is not only your credit score that is a factor when it comes to getting the approval of a mortgage, but also the financial state of the building, the appraisal of the unit, and the percentage of owner occupied units in a building, that will play an important role in what type of mortgage any bank is willing to offer you.

Feel free to email me, and I'll be happy to send you a couple of recommendations of mortgage brokers.

Best of luck,
Filippa Edberg
filippa@bondnewyork.com

Hi,

I am a Licensed NY Loan Officer with Equity Loans. We are a direct mortgage lender and I would be able to assist you further. Please contact me directly to discuss your options. My direct # is 347-462-4210.

Looking forward to hearing from you.

Rocco Guercio
Sr. Mortgage Consultant