All Forum Posts by: Erica Larence-Penna

@CJ S. Typically docs are recorded the same day, so it's not usually an issue.  It would likely be prorated to the date of the closing, but check the purchase and sale agreement and see what it states in there.

@Scott Hayes reach out to @Elise Marquette.  She's still doing cash out refis at great rates and reasonable costs.

@Jansy Monegro reach out to @Elise Marquette.  She's fantastic!

@Drew Acocella reach out to @Elise Marquette she might be able to help! We purchased a four-unit using an FHA 3.5% down loan and I have clients who recently purchased three- and four-unit properties with this loan, so you are not limited to a duplex.

There's typicaly a 75% LTV limit if the borrower is not occupying the property, but I am pretty sure there are exceptions to this rule if the non-occupant co-borrower is a parent. Elise would know more than me though!

@Josephine Wilson reach out to @Elise Marquette!

@Kristina Lugo we used an FHA 3.5% down loan for the first one. My fiancee doesn't have nearly as much student debt as me. We are buying our primary with an attorney loan (no PMI and they don't count my student loans) under my name with 3% down and we have been looking for investment properties that we are going to buy with conventional financing under my fiancee's name. We also have a partner and she is preapproved for a conventional loan for an investment property.

I think househacking is the best way to go if you're able to. Use the rental income to put towards your student loans!

Reach out to @Elise Marquette!

@Elise Marquette absolutely!  Thank you!

@Chris Mandle reach out to @Elise Marquette.  She is fantastic and may be able to help!

@Sean Crowe I was thinking if you have comps higher than what they are stating the value is and you have the same loan amount, you could get the PMI off because the LTV would possibly be below the 80% mark. Is it a conventional loan where the PMI would come off automatically or would you have to refinance again to get the PMI off? The rate is good, but are the closing costs fair?