All Forum Posts by: Daniel Porter

The nice thing is if you get your rental now in Huntsville, you still have purchasing power when you PCS by using the VA loan. So even if you had to use some of the $85K right now to get the rental, you could still purchase a house at your next duty station.

Congrats on your orders to NH and good luck on your first investment property!
I grew up in New England (Massachusetts) and used to do a lot hockey tournaments and hiking in NH. It's beautiful! Nothing beats fall when the leaves are changing! 

 Hey Doran,

From what I recall: 2 years of W2s, 2 consecutive months of pay stubs, 2 months of bank statements, copy of my drivers license, and a copy of any other mortgage statements that I have.

The only other requirement I recall was having 6 months of proposed mortgage payments in assets somewhere. (Checking, savings, retirement, etc)

City Bank

https://www.city.bank

City Bank  

https://www.city.bank

They had just done a presentation for my property manager and she told me about their 15% down. 

It just so happened it was the same day I had found a home I wanted, so I gave them a try. 

 Yes sir! Investment home!

I just closed Tuesday on a SFH. 15% down, 5% interest rate. The numbers worked so I went for it!
Good luck on your deal.

Caleb,

I did not order the second appraisal.  You guys were all able to clear this up for me.  I misunderstood and thought it was based off my money down paired with the price I bought the house verse appraisal.   

I’m closing Monday.   

Thank you, everyone! 
I think my lender and I are not having clear communication because I was under the impression the appraisal coming in higher would have dropped the PMI.

I appreciate the insight.

You have the tourist game, but don't forget hospitals and traveling nurses.
My sister works at Cape Cod Hospital and talks about all the traveling nurses and therapist that come through. There is a pretty good market for that. I'm considering picking up within a reasonable distance from Otis air base and Cape Cod Hospital. That way I could possibly attract a renter who is stationed on Otis or get my rental into part of the traveling nurse program.