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Updated about 1 year ago,
Mortgage Requirements Detroit & Good Real Estate Media
Hey Detroit Investors, was wondering what the typical requirements are for mortgage approvals in the area as I am going to be out of state investor new to the space. Not sure if their are exact numbers for things such as D/I ratio, credit score, and reserve funds, time at current job for mortgage approval. Was hoping to get some ball park numbers people have been seeing for themselves on their own investments or what mortgage brokers are considering as the bare minimum for approval requirements in todays economy. Any help is greatly appreciated as the mortgage aspect has been the most unclear to me.
Secondly would really appreciate any good Detroit related blogs, websites, podcasts for real estate as well as any good media for understanding the lending aspect of investing.
Thanks in advance for the help look forward to communicating further with any one in the space that is wanting to swap some information opinions and goals and build a further business relationship .