All Forum Posts by: Albert Bui

I would recommend to utilize a 5% down conventional loan on the primary home since conventional financing has the least effective cost as the mortgage insurance is not as high. This assumes your credit is sufficient to make sure you can utilize conventional financing effectively otherwise FHA for the primary home will allow the most leverage at 96.5% loan however FHA adds 1.75% of your loan that gets financed into your loan and an additional 1.35% annual mortgage insurance. If your fico scores are 680 or higher conventional financing will generally be less expensive that way you can manage your cashflow more effectively month to month. As for the rentals you can cash out up to the 4th mortgage 75-80% of the market value of those units however it may not be so prudent to do so because if the value is only 50k 80% of that is 40k then paying 2-3 k to close each one can be very expensive. There are local banks that may be able to do a cross collateral loan which is one larger loan that liens all your rentals together. However very specific advice on your scenario can vary depending on your unique scenario, financial statement, credit, and etc