Looks like after few months of number crunching I got an idea of what and where I should get a property. Which brings me to the mortgage. How do I get a mortgage for out of state purchase?
Details:
- I am in San Francisco, CA
Property is in Texas
Property is in 150k-200k price range
Property is 4-plex
I have 40k-50k for down payment and transaction expenses (yet I'd prefer to put down as little as possible)
I'd rather handle it all remotely
How is it done? I assume I need to find some mortgage lender who serves the whole nation? Any recommendations?
Find a good Texas mortgage broker.
Ask local real estate investors who they use.
While I haven't yet purchased in Texas, I have talked with a few Texas lenders, so I may be able to refer you to one if you'd like.
But I'd recommend referrals as the way to go in finding a good one.