How can I originate loans in all 50 states?

Jim0010

LoanSafe Member
Apr 1, 2014
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I am an existing entrepreneur who is interested in creating a new business nationwide. I have the capital for the business, but I would need several mortgages in several states to provide for some building needs.

I have a great credit score of 787 and several friends in the lending business, but neither of them could answer my question above. Lets say I need mortgage in multiple states, or all 50 states could it be done?

Does this investment increase my risk to them dramatically and would it force interest rates and other fees for me to skyrocket? Or would the lenders ignore my other loans and just assume me as another one of their faithful customers in their home state.

Would a mortgage broker in one state help me to find this information out, or would they only assist me for the mortgage I am getting in that state. In other words, do any multi or national state mortgage brokers exist out there????
 

Survivor_IN

LoanSafe Member
Jun 2, 2008
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my 2 cents

you would need a broker license for each state and would have to register your business name for each state in order to do business there. takes time unless you have a fancy registry like Mers ;)

I can't answer the other Q's, but that is what I've seen so far in this industry
 

Erik Sandstrom

Mortgage Expert - Call 1-619-379-8999
Staff member
Loan Safe Mortgage
Jan 14, 2011
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San Diego, California
www.loansreduced.com
I'm assuming you're not talking about obtaining a mortgage license to do loans like I do. If you are, yes you can get a license in all 50 states but what you're mentioning above sounds like you're trying to invest in land and then build on the land?

What you need is a construction loan and in order to get a construction loan you typically need to have experience in that field for any construction lender to help you with financing. You need to understand CC&R's, Permits, Build Specs among many other things. This is why it's better to buy the land and then work on the construction.

I'm sure multi-state commercial/construction lenders exist. I personally lend in close to 40 states (residential or commercial residential ie: apartment buildings) and work with MANY builders like DR Horton, Pardee and KB homes. In order to fund we need to first do an initial inspection and then re-inspection when the work is complete. At that point funds would be disbursed to the parties involved in the transaction.

Your post is somewhat vague in regards to what you're looking to do, if you give us more info we may be able to point you in a direction.