All Forum Posts by: Ivonne Hunter

Ok great I just thought it was important for keeping things separate.

My son will be living at the property for atleast 1 year but I was thinking that the business address should be the property address but the mailing address be my home address. Is this correct?

I opened an LLC for an triplex investment property so should the address on that LLC be the property address or my primary home address?

@Kevin Luttrell I believe it is a buy down rate but then why not say that?! They are telling me I must pay to lock in the rate atleast 4 days prior to closing which makes no sense to me at all. I still haven’t gotten any options in writing which is also troubling.

After further discussions the “lock rate” was lowered to 1.975 which is $7k instead of $12k. According to the mortgage broker this is a mandatory fee that some institutions call discount points, lock-in rate, processing fees, etc. I still don’t understand Why I must pay for a rate at all. I feel overwhelmed, frustrated and like I’m being taken for a fool. There’s so much I have read yet so much I don’t know & understand that at times I want to give up and walk away. My Reba oty & determination keeps me in.

Thats what I thought. Who is this fee paying? The mortgage broker firm? Any suggestions on what financial institution is better?

Hello to all, I’m recently got into escrow on my very first investment property and when going through all of the fees to close I came across a “lock in rate” fee which is to lock in the 6.125% interest rate at a whopping 4% of the loan amount ($540k) which is an additional $12k. Has anyone ever heard of this.

Yes the lender is aware. Thank you for your feedback. There’s so much to learn it’s overwhelming. If I wait to read everything before investing I’ll never get to do it so learning as I go with the help of bp is all I can do.

Hello to all, this our 1st investment property & im wondering with a property that shows as a Duplex at the county but is an actual triplex (2/1, and 2 studios) with a credit score of 790 what type of loan is best & what should my interest rate be? I’ve been quoted 8% non-QM with 15% down, or 6.125% conventional with 25% down. Only the 2/1 and ONE studio have permits pulled. Any better terms/loans out there so I don’t have to come out with so much down with a decent interest rate? Is a permit for a studio actually required if the structure of the home hasn’t changed?

I’d love to know the answers too