All Forum Posts by: Giovanny Alfonso

@Ashley Mutawakkil See you there!

I'll chime in being that I am born and raised in Miami, but lived in Charlotte for a several years. 

Charlotte is certainly a nice city that provides all the benefits of a big city without some of the downsides such as terrible traffic and super expensive living costs. Downtown is clean and growing at a fair pace. There are plenty of jobs and I believe its a great place to raise a family. You'll definitely miss out culturally and the night life, but if those things don't interest you it's a better place overall to live in than Miami. People are nice, you get all the seasons overall a win win in my books. 

I'm back in Miami for personal reasons, but would consider going back to Charlotte with the right circumstances.

The only catch is that the interest rate is 1%-1.5% higher than the typically 5% down conventional loan or 3.5% down FHA. Of course these programs are only for owner occupied, investment properties require much more for down payment. As some others mentioned, we are still very strict on DTIs and verification of income/assets.

@Darren Beauchamp

I'm local and would be more than happy to help you. Send me a message and we can discuss more. I see people doing cash out refis to pay off another property all the time. 

@Yaroslav Golubev I work for Regions and we occasionally do these loans. It must be owner occupied, but we do take into account the rental income so you can qualify for a decent loan amount. Feel free to reach out if you need any help.

@Erik E. Congrats on the move! I'm sure you'll find it quite a bit different than Virginia. The city has a ton to offer no matter what it is you enjoy. 

@Max Brunke Basically there is a real lack of communication on the part of the loan officer and everyone else in the transaction. Underwriting is typically in a far off place, and I hear over and over from realtors, that the bank drops the ball at the last minute. Could just be the culture down here in Miami, but listing agents rather work with the smaller regional and local banks.

Really any of the banks can help you if you are doing a conventional loan. You'll find that some listing agents in Miami don't want to deal with mortgages from the big banks i.e. Bank of America, Chase, and Wells Fargo. Let me know if you need any help.

Welcome to BP Clarke! There are a number of knowledgeable and experienced people on here. Certainly a good place to start as you build your business.