Empty your pockets

8/19 – Dealing with a lender may seem easy. They want your business and know that you can shop anywhere else. They also know that you will be screwed just as much by the next guy, but it will be less painful. I chose to use a lender that I had used as recently as 8 months prior so I figured they had at least half of what they needed. You deal with a guy at the head office and they will refer you to the most local branch. The rate I got locked in at was higher than my rate on my house. This being because not only is this a second property, but also an investment. Research (questions to people I knew would know this) told me that this is not a set rate or trend. You can get a rate of 5% or 15%. It's the preference of the bank you select.
The branch and representative I was connected to for the duration of the process was very nice, but slow. I had to come to realize that I wasn't dealing with people who ever use the terms haste and hustle. I felt like she perpetually sipped decaf while eating some sort of fruit pie, savoring every bite.