All Forum Posts by: Account Closed

Thanks guys this has been extremely helpful!

Hello Eric

We are paying cash for the home, then we are you looking to refi and take cash out. So we would have to wait 6 months to do this?

Thanks for the reply.

Greetings All,

My business partner and I are planning to buy a homepath property. We want to refi this property as soon as possible. My question to the forum is about the credit score requirements. Are credit score requirements the same for getting a re-fi on a property that you own vs. trying to get a mortgage on a 2nd property as an investor? I would imagine since you own the property and have equity that the credit score requirements would be less restrictive.

thx!

Hey Guys,

I am interested in getting a 20 unit building next yr. If the building is listed a 500k should I except to pay 20% down in order to get a loan though a major bank. My income is high and my credit is good. Just curious about how much I need to save in order to get the loan.

Thanks

Thanks Dion.

I was aware of the 20-25% down on investments loans required but I didn't factor in the 6 months of reserves for each loan.

I should have about 95k in equity available after paying off my condo. Would that help with PITI reserve requirements?

Greetings All,

Quick question. If a bank qualifies me for a single 300-400k loan, would I be able to get 3-4 100k loans based on the initial qualification amount?

Thanks for the feedback. Great info!

Hey BP.

I had a discussion with a friend about real estate investing in which he stated that all finances used towards down payments for a mortgages can be considered a "loan" to the business and thus recouped 'tax free'. I wanted to get a second opinion on this. Is this true? Any feedback would be greatly appreciated.

Thanks Dawn

What if I pay cash for a home... say 40k but refinance 80% of it in the same year? What part of these two transactions can be listed as an expense besides interest, escrow and taxes?