All Forum Posts by: John Melenski

Thank you for the input.

My lender is saying they have pre-approved a $540k loan with 30k down, which is just a bit above 5%. It is listed as a "super conforming" loan and has very competitive rates, including PMI auto-removal at a certain balance pay down or bank appraisal paid for by the borrower.

Is there any reason this won't work for an owner-occupied duplex?

I see frequent references here regarding housing hacking and the usage of FHA loans. It seems most people are doing so to allow rental income to support DTI ratios.

If I can income-qualify for purchasing a property without utilizing a FHA loan, is there any reason or need to do so? On the same token, will a traditional lender allow a duplex or 4-plex to be purchased with a normal fannie may or super conforming loan?

I understand as a landlord owning (1) 3bd/1bath/1500 sq ft unit and not using a property management company, I am exempt from many requirements, such as allowing service animals in some cases.

Does this also apply to the (2) per bedroom occupancy standards?

Does the law pertain only to nuclear families or does it also include extended families (grandparents/parents/grandchildren)?

I have a how thats septic, and I don't want to deal with the costs to dump it, and I just assume not have 6-7 people crammed in there.

I am a landlord with 1 unit.  I am looking for company that will allow me to pull Tenant credit and eviction history reports.

I used to use Kroll Factual Data.  Since I didn't pull for 1 yr, they closed the account and stated they no longer take landlord accounts.

I can not find any other company that lets me input the tenants information and social security number based on a signed application and pull the report.