In this episode, we dive deep into the pros and cons of banks vs. mortgage brokers for your private lending needs. We explore the perks of going through your bank as well as its disadvantages. On the flip side, Neal and Ryan also share how brokers might be (or might not be) the right fit for you.
Tune in to find out which option could save you time, money, and hassle on your private lending journey!
Show notes:
1:07 - Introduction
4:11 - Neal's personal experiences as a real estate investor
5:38 - Brokers have access to a wider range of lenders, including banks.
11:46 - Advantages of using a bank for mortgage financing
12:45 - Sometimes your bank may offer you the best rate
14:08 - Disadvantages of using a bank
16:56 - Banks may have a slower response time for loan applications.
18:51 - What happens when you start looking for leverage-based products?
20:05 - Brokers have more access to flexible products.
22:34 - There's no cost to choose a mortgage broker
23:55 - Disadvantages of using a broker
Resources:
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