All Forum Posts by: Jack Matthias

Yes, depends on if he already has a loan and the rate on that. Same thing for the size of the Heloc but you'll get better terms on the Conventional vs Heloc.

Hi Josh,

Curious why the Heloc as this can be done with better terms going the conventional route.

Hi Evan,

If you do land on Indy and want any help crunching numbers and current rates. Let me know as I am licensed over there as well.

Feel free to reach out with any questions!

Hi Ralph,

As Monico answered you can do the HELOC for the down payment. Although you will be unable to combine them for a while unless the place appreciates rapidly.

If no consideration is being exchanged, then all you would need is exempt stamps for State and county. 

Chicago would also require a $0 exempt stamp,

Just a FYI, Any deed recorded in Chicago will require a City of Chicago water cert.

Directly from my title guy.

But like John said your attorney should be able to tell you exactly.

Hi Adam,

That seems way off! I just reached out to my title guy to confirm. But it should only be attorney cost, the deed and recording fees (few hundred) , maybe a final water cert. I'll reply back to confirm once I hear back from him. 

Hi Hunter.

Hopefully I have some good answers for you regarding our doctor program.

Employment start date must be with 90 days of loan closing.

Min Fico 720

Max DTI of 43%

6 months reserves on subject property and the other properties you own.

5% down on $400k to 1.5M

10% down on 1.5M to 2M

Will be an ARM

No mortgage insurance

SFR, Condo, Townhome, PUDs only no Multiunits

Let me know if you have any other questions!

Let me check our guidelines on our physician loan and get back to you!

Hi Abigail! Happy to connect and answer any financing related questions