All Forum Posts by: Debra A.

With that budget, even on Long Island you will need to look for a property that needs extensive work, or a small condo or co-op. 

 I honestly forget but I want to say it was 21st Mortgage Corporation. I actually asked about it in the Mortgage Pub forum on facebook and someone replied back to me with the suggestion. 

I actually found a lender who would do it...but the rates were in the 7's so it wouldn't even make sense for her to do anything! Sorry for the delay on this post, I did not see your response til now. Thanks for your response! 

@Antonio SalgadoIs this your first time buying a home? Do you have any investing experience?

@Cheryl James Yes absolutely, so it's pretty simple. Brokers get what we call wholesale rates and pricing. We shop our network of lenders for you with one application and one credit pull so we can see who's giving us the best rate, terms and pricing (closing costs) for your scenario. A broker can also get a generous premium rate credit towards the loan which should cover any origination fee's (part of the closing costs), get underwriting fee's waived and may even be able to get processing fee's waived by the lender as well. Because a broker is basically acting as a liaison between you (borrower) and the lender/bank. 

Hi @Cheryl James. I know of some awesome "one-time close" construction to perm mortgage loans that you may want to consider. 

Asset Depletion? You could do asset depletion with qualified assets. Just depends on where your assets are "tied up". 

Why are people still going to the big old "BANK"??? It's 2019. You need to find a good local mortgage broker ;) ;) 

with access to the investor friendly programs you need. The bank can only do so much! 

Thank you!! 

I've been talking about Utica, NY for a while now! My sisters friend who "does a lot of investing" (whatever that means) says "it's not what he's looking for" but...the houses are so cheap and I've been following the market there and I keep seeing more and more homes being snatched up and updated.