All Forum Posts by: Cathleen Blackmon

DANG! 210k for a duplex in Dallas seems like quite a steal!

Hi Erika, 

I'm not sure where you are at, I do them in TX.  

Most banks do these.  I know Frost Bank does SBA loans.  It seems like the SBA don't net as much profit for the banks and so may discourage you upon initial inquiry.  I've been told they take longer and lots more paperwork but couldn't confirm first hand. 

Hey Candice, 

We have all our properties under an umbrella. We also have an llc but lenders don't typically allow mortgage loans to be held by an LLC and we don't see any real tax benefits by holding them in an LLC. We are having a meet up next Friday and a CPA will be sharing some knowledge as it pertains to REI. I'll PM you details.

Hey Matthew, I'm a local lender and investor in San Antonio. I work for Pilgrim Mortgage based out of San Antonio. FHA is a great option if you are planning to live in one unit and looking for the least out of pocket expenses. I will PM you as well, hope I can help.

Hey Andrew!  Sent you a PM.  

$500k would be a decent budget for San Antonio but what you end up with would vary depending on area of town you decide on.  P&I will run you about $1450 on a 350k conventional loan. Be sure to check out property taxes on each property as that will be a big chunk of your payment.  Texas property tax rate is much higher than CA. 

I'd be happy to assist you on loan scenarios once you have a couple properties on your radar. 

Hi there, I'm an LO in TX.  We are extremely busy due to refinances on top of purchases.  Purchase transactions will take priority over refinances when it comes to underwriting BUT with all that said it should still not take that long.  I'm still closing refinances in 30-45 days assuming there's no big hiccups. 

I'd always recommend going with a mortgage loan originator over a call center.  With Rocket or Chase you will not get the communication that you are likely wanting.  If you have a quick question or need a pre-approval letter on nights or weekends good luck.  

If you have an agent I would ask for referrals as they likely have a relationship with some lenders.  Or if you don't I'd be happy to assist.  Feel free to message me directly to see if we are a good fit. :)

Hi Jordan,  I can assist.  Message me and let's look at what you got.