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All Forum Posts by: Brandon Croucier

Brandon Croucier has started 0 posts and replied 430 times.

Post: Bridge Loan to foreclosure flip

Brandon Croucier
Lender
#5 Private Lending & Conventional Mortgage Advice Contributor
Posted
  • Lender
  • Newport Beach, CA
  • Posts 466
  • Votes 180

What do you owe on your current home?

Post: In Contract today! Looking for best loan option: 20% Down, Purchase price - 1.45M

Brandon Croucier
Lender
#5 Private Lending & Conventional Mortgage Advice Contributor
Posted
  • Lender
  • Newport Beach, CA
  • Posts 466
  • Votes 180

Is this going to be a primary residence?

If so, if your credit is solid, it’s for sure beatable. 

Post: The fed just cut mortgage rates right?

Brandon Croucier
Lender
#5 Private Lending & Conventional Mortgage Advice Contributor
Posted
  • Lender
  • Newport Beach, CA
  • Posts 466
  • Votes 180
Quote from @Jay Hurst:

I thought I would bump this topic back to the top based on the fed cutting the federal funds rates a .250%.  


Lol, And my phone blows up whenever it happens!

Mortgage Rates are dictated by the bond market more or less, fed funds are typically a trailing indicator of the T Bills.

No, your rates not going down. HA

Post: Loan options for 155k mixed-used property?

Brandon Croucier
Lender
#5 Private Lending & Conventional Mortgage Advice Contributor
Posted
  • Lender
  • Newport Beach, CA
  • Posts 466
  • Votes 180
Quote from @Ian Woods:
Quote from @Brandon Croucier:

Hey Ian, there is an investor who can get the job done, the rates a bit higher though. 


 Hey Brandon.

I trust there is. Can you point me in the right direction? 

Sure thing, I PM’d you. 

Post: Loan options for 155k mixed-used property?

Brandon Croucier
Lender
#5 Private Lending & Conventional Mortgage Advice Contributor
Posted
  • Lender
  • Newport Beach, CA
  • Posts 466
  • Votes 180

Hey Ian, there is an investor who can get the job done, the rates a bit higher though. 

Post: What do you qualify as a proof of funds?

Brandon Croucier
Lender
#5 Private Lending & Conventional Mortgage Advice Contributor
Posted
  • Lender
  • Newport Beach, CA
  • Posts 466
  • Votes 180
Quote from @David Cheng:

$2MM is the listing price.

I've done this many times as a buyer. All it takes is a screenshot of my vanguard. I'm not asking for anything crazy detailed. 

They probably don’t have the funds and are potentially looking to just flip a contract. 


Post: What do you call this kind of deal?

Brandon Croucier
Lender
#5 Private Lending & Conventional Mortgage Advice Contributor
Posted
  • Lender
  • Newport Beach, CA
  • Posts 466
  • Votes 180

Wheres the 20% coming from?

It's just a seller carry & the seller sells the note.

Post: Loan on uninsured investment property

Brandon Croucier
Lender
#5 Private Lending & Conventional Mortgage Advice Contributor
Posted
  • Lender
  • Newport Beach, CA
  • Posts 466
  • Votes 180

Are you trolling BP? 0 Chance.

Cmon, pay for insurance or just don't own real estate.

Trying to gain an extra 2-3% ROI and risk your entire principal is just stupid.

Don't be cheap, get insurance.

Post: What do you qualify as a proof of funds?

Brandon Croucier
Lender
#5 Private Lending & Conventional Mortgage Advice Contributor
Posted
  • Lender
  • Newport Beach, CA
  • Posts 466
  • Votes 180

Hi David, 

Some people honestly do not like jumping through hoops just to go see a property or entertain offers as it just becomes a headache to gather stuff.

On the other hand, if its a luxury property or something worth a couple million, wasting time on non qualified borrowers is something to also consider.

What is the listed price for this property?

Post: Blanket/Portfolio Loans and buying an 8 unit with a single family next door

Brandon Croucier
Lender
#5 Private Lending & Conventional Mortgage Advice Contributor
Posted
  • Lender
  • Newport Beach, CA
  • Posts 466
  • Votes 180

Hi Valerie,

Theres a few options you could go about, there are a few investors who can blanket the loans but this is going to be more along the likes of hard money, so increased costs.

I don't think the seller would be opposed to amending the contract and allowing you to close separately (assuming the SFR is a applicable value).