All Forum Posts by: Edgar Diaz

I have recently transitioned from jobs a couple of times during the past year and I'm wondering if it will make it difficult for me to get approved for an FHA Loan? I have 4 years of consistent work experience in the same field and I can show an increase income for the job transitions that I made this year

@Jonathan Greene thank you so much for the insight. I am willing to accept a property with existing tenants in order to find a good deal, I am just worried that with Covid it would take a long time to evict someone if they opted not to pay rent due to the courts being closed

I am looking to get into a rental property in NJ, ideally in Paterson, NJ. I just wanted to get some insight on whether now is a good time to get in with Covid ever looming?

Is the owner occupancy requirement for FHA loan verified or is it simply a rule that is not enforced after purchasing a home, especially now with Covid?

I’m currently living in NYC and have been pre approved for a loan of up 125,000 that I intend to use to purchase a property in the Harrisburg Pennsylvania area. I’m interested in getting some help in finding a house that I can pursue a potential house hack. Would welcome any information on the potential risk involved since I’m not from the area and don’t know the laws

@Bruce C. So than does that mean that I only need to have the money deposited in the account for 3 months prior to applying for a loan?

@Dean H. I have it but my trepidation is how long does it need to be in the account after deposit for it to not be questioned when going for a loan approval?

@Jerry Padilla so than does that mean that I only need to deposit the money 69 days prior to going for a mortgage loan approval?

Do I need to prove that the money I have for a down payment came from income reported or can I say that I got it as a private loan? I am going to apply for a mortgage pre approval but I don’t know if I can show the money for the down payment as a loan deposited into my bank account or if it needs to be shown to have come from income reported by myself or my co sponsor

I’m wondering what books or other information sources I should use to get informed as quickly as possible in the real estate industry. I’m really looking to invest in rental properties preferably multi family homes