All Forum Posts by: Keith Acfalle

Hi Everyone,

Hoping to get advice on using HELOC for a down payment on a house.

My parents are planning to put their Lake Stevens, WA house under my name which would allow me to use its equity in the form of a HELOC. As of now, the house has 200k in equity (valued at 400k with 200k left in mortgage).

By having the Lake Stevens house under my name, I would be able to use the HELOC for a down payment to purchase my first property (excluding the Lake Stevens house). Are there any major factors I should consider before looking further into this strategy? Is this strategy viable for a new investor? Any advice would be greatly appreciated. Thank you!

Hi Everyone,

I am a new investor looking to invest in real estate in the next year and have been looking into leveraging an FHA loan to minimize my initial capital invested. However, after running a cash flow analysis on various deals, I realized that the Mortgage Premium Insurance (MIP) lowers the take home cashflow.

Are there any strategies on removing the MIP expense after a certain amount of years? Any advice is greatly appreciated!