All Forum Posts by: Account Closed

@Ned Carey sorry my wife’s current w2 income is approximately 2400.00/ month, and self-employment income can vary between 1500.00-2500.00/ month. Our current mortgage is 1980/month

@Ned Carey yes I am currently unemployed but receiving a monthly VA compensation of $2,190. My wife has been self employed for the last 3 years and just added a W-2 income as well. Thank you for taking the time to respond, we really appreciate it.

Hello everyone. My wife and I are looking to start our journey into long term buy and holds. We bought our home in 2015 with a VA home loan and our current equity is about $90,000. We would love to purchase a multi family nearby and have been looking into hard money loans to do it. Our issue is if we find a reasonable multi residence with minimal repairs, can we refinance into a conventional loan to pay off the hard money lender. We can use the equity but I am currently not employed so refinancing to put a down payment probably won't go through the paperwork for a conventional loan. We're very green to all of this so if what I wrote makes no sense I apologize. Our current residence is in Folsom Ca. Thanks