All Forum Posts by: Austin Cox

Update: after much hassle and educating folks on what is possible (since it's rare) ... we're doing VA via secondary entitlement and working with a top 5 loan servicer.

No mortgage insurance, APR in the 5s, <$30k out of pocket all in.

Next best would have been a portfolio conventional product without mortgage insurance (similar to a "physician loans").

we aren't (comps and pro forma) ... but it certainly doesn't hurt to see an assigned appraised value which trends 5-10% below market values

But I'm with you

thanks for your reply! We're not letting a VA terms bias anchor expectations ... rather understand that plenty of other folks have received better than retail/portfolio/non sold on secondary products for much better than market deals. In a high rate environment, I'm here to look for best in class partners, or referrals to such, to get this to the finish line.

This example: under contract for around $700k with 2020 Philadelphia city appraised value at around $890k. Thus, conservatively, this property is worth $860-$920k -- which is the reason for the $60k spread.  Additionally, terms should only improve after today's inspection.

Thank you!

great point - we're on the same page! There should be around 22-25% equity built in.

thanks for the reply - I'm asking specifically because I know our financial profile and deal dynamics will qualify for better than market/retail sold on secondary products

So while I appreciate the words of advice - this is not what I'm looking for!

Recently under contract on a triplex (Philadelphia). Would love to find better than retail/portfolio/not sold on secondary product options, preferably with no PMI, as we have $120k-$180k of equity built in via sales price vs market value.

VA loan entitlement mostly used up so have been looking at FHA and Conventional products. Have not been impressed by current rates/loan estimates/cash to close.

Would love any referrals or recommendations if y'all have some.

Inspection is Monday (11/18)

Not under contract and still primary!

Hi, we are currently in the market to refinance out of VA loan to gain entitlement back...

Can we refinance into FHA, Conventional, or Physician Loan (we qualify)?

Or does it have to be an investment product like DSCR, etc.

Thanks!

There seems to be a lot of inquiries about Housing Choice Voucher Programs / Sections 8.  However, does anyone have experience with:

1. investing specifically in what the local Housing Authority deems as "High Opportunity Areas?"

2. working with the HUD-VASH partnership? (investing or property management)

I understand how every Housing Authority office is different ... but wondering about your experiences with the above. Thanks!

@Andrew Garcia - thank you for the quick answers here! Do you know what constitutes "if the Veteran has repaid the prior VA loan in full, but has not disposed of the property purchased"?

@Erik Browning - thank you for the breakdown as well!  I'm tracking on entitlement limits based on counties.  So to make sure I'm following on the one time restoration piece ... Once the restoration is triggered - who is actually responsible for noting that on the COE in the process?