All Forum Posts by: Craig Warner

I am looking to purchase a few rentals properties on deals that came in through my direct seller marketing. I intend to buy them 10-30% below market value through my LLC.

CoC return on these condos are from 12-15% with a cash flow of anywhere from $3-400 / month if going the traditional financing route. Purchase prices are between 105k-140k.

I am considering doing interest only loans to increase cash flow. Can anyone recommend a lender that they have personally used to implement this strategy? Has anyone utilized this strategy for a longer term and have any feedback? 

Hey all. I have three homes and am looking for my 4th. I am looking to leverage a non-QM loan product for my 4th purchase and I want to use a bank statement loan and I would prefer for the LTV to be about 90% (I heard such products are out there). Can someone point me in the direction of a lender who does bank statement loans with a 90% LTV. Thanks.

Hi, does anyone know who offers all in one/first lien HELOC in Nevada with credit scores around 680? Thanks.

Are there any lenders offering HELOCs for small business owners who primarily use bank statements to qualify, especially those with write-offs? The credit score is around 720, and the property is owner-occupied, which might simplify the process. Any recommendations would be greatly appreciated!

I tried looking into this from a few avenues and haven't come to a conclusion. 

I started my first FHA house hack back in November 2023. Being that my year living here is coming up, I was hoping to refinance into conventional and buy again with the 5% Fannie Mae.

But... I started looking into the FHA streamline product and spoke to my lender about it. Roughly, it seems I could save $350-500 a month in payments with the current interest rates using this FHA streamline. (going from 6.75 to 5.5-5.75)

What I fear is that this forces me to stay in the property again for another 12 months. Is that true? I was hoping to be onto my second house hack in Q1 of 2025. 

Anyone with the expertise that can help me out with this situation?  

Thank you! 

Hello all,

My wife and I are looking to purchase a house-hack in the southern New Hampshire area. My question is in regard to getting funding for a loan due to my income. My wife has a W2 income. For myself, I own an e-commerce business so I am self-employed. I started the business in late 2022, so only have about 2 months from that year on my 2022 tax return, then have a tax return for all of 2023. I know lenders typically look for 2 years of tax returns for self-employed income. Would lenders approve us for a loan for a house-hack even though I don't have 2 full years of income on tax returns? The other note is that in 2024, my income from the business really sky-rocketed, 3-4x what it was in 2023. But, would my 2024 income even be considered towards pre-approval given it is not on a tax return yet? Any information/suggestions anyone can provide is greatly appreciated!

I have a property under contract (4 units) I'm shopping around for a mortgage and need some advice. 

Which option will you choose, which one will be cheaper from a long-term perspective? Both options are Credit Unions - no points, no origination fee

1. Fixed rates - 6.125

2. Arm Loan - 5.250 (after five years the rates can go up 1.25%  ( I will need to refinance before year 5) 

HI hi, I am currently in contract to buy a home in Olney, MD (3bed, 3.5Bath. I offered almost 30K above and apprisal came in 3K more than what I offered. I really like the home and the area. However, the lender I am working with is part of the Maryland mortgage program that give you the 25K silent loan that needs to be payed back if you sell or refinance. The rate I got was 6.25%.  I do not plan to sell any time soon but do plan to refinance in the coming years. This is holding me back a little and I am currently shopping for other lenders, banks. I feel a bit stuck and would appreciate any input.