Is There a Difference Between a Primary Residence and an Investment Property?

When you get those initial term sheets back I think that's when you can make a more educated decision around which one you actually want to read the process with. A lot of lenders just by giving that initial pre-qualification they can give you a ballpark on what your final terms might look like. One of my business partners on a deal he and his wife did actually burn a bridge with the lender where they waited until the morning of closing on their line of credit on a property to call the bank and say they could no longer go through with it.

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