Help estimating costs associated with different financing methods

[Tristan S.]

Hello guys,

Looking at a potential deal here in Houson, Texas. I am crunching the numbers and need some help trying to determine what would be the costs associated with different financing methods :

- HML+Long term refi : 2/3 points + 10/14% interest only payments, what closing cost to expect or what is a good estimate when closing with HML? (house ARV around 160k), then what would be the extra cost to switch to long term financing after that and is seasoning required? What are the pitfalls?

- Private Money + Long term refi : cost of money will depend on person you deal with, what cost can be assumed for the closing costs? similar to HML? What about the transition from private to long term, how would that work?

- Finally, some places offer a loan for rentals, 6% interest, 2.75 points and will loan up to 75% arv. Once again, will the closing costs similar? or will they differ? No need to transition in this case but interest are higher, I am trying to figure out if it would be worth it.

Thanks for your help guys!