All Forum Posts by: Joe M.

@Michael Doherty gotcha, thanks. Yea, I can get 80% LTV on the heloc. Think that might be the better choice at this point.

I would like to buy several. Have 3, looking to maybe brrrr with it. 

Hey!

I own a single family free and clear. I would like to take out a heloc on it. It is non owner occupied. The rate I’m looking at is 4.75%. First 10 paying interest, next 20 principal...

Is it possible to refinance and take cash out on the property instead even though I own it free and clear? If so, which option is better?

Thanks!

@Filipe Pereira found it! Thank you so much, perfect.

Does anyone have a doc or sheet that has a list of cleaning demands upon the lease ending? For example, it would say there is a fine for leaving any items in the house after the last day of the lease.

Hello all!

I have an interesting scenario. There is a primary residence with an unattached in-law suite in the backyard. The family has them on two different titles owned by two different family members. The plan is to buy the primary with a loan from the bank and then do a title exchange for no cost with the in-law suite. I will be doing work on the primary residence.

Once the rehab is completed, is it possible to refinance both the primary residence and the in-law suite together even though they were purchased separately technically?

They are labeled address wise with a number and then that same number and a half. I.e. 45 and 45 1/2. Don’t know if that makes a difference.

Thanks!!

Hey!

I am trying to house hack a property, but am being told my DTI is too high and they cannot accept my future rental income to help it. DTI is at 53% they said. I am currently house hacking in a duplex, but would like to use an FHA or conventional loan to house hack another house. What are some options to get around the high DTI issue in order to obtain an owner occupied conventional loan (with only 5% down) or an FHA loan? I've seen find a lender that will give you a commercial loan regardless of DTI, but I'm only putting 5% down and will be living there.

Thanks!