All Forum Posts by: Ko Kashiwagi

Where is the property located? There are a few programs that can do second position financing but typically underwritten based on your personal income. Happy to chat if I can redirect you

Also looking at a potential VA deal right now.

How do you navigate this if the seller is looking to buy another primary in the near future?

There are small number of cases where it makes sense, but sometimes it does. Best to get quotes for both 30 and 40 to see how it plans out. You could also just do 10 year IO. 

Hi Paola,

If you are looking to buy another primary, looking to put the property into a LLC, may be changes in your income/job, looking for faster/smoother closing, DSCR could make more sense. Otherwise, it'd be best to compare both quotes/scenarios.

Hi Cory,

With primary residence address in the US, you'd be able to take advantage of most DSCR programs that looks at rental income rather than W-2 income. You'd want to make sure you can sign out of the country through the embassy, as not all lenders/title companies allow this

Hi Maegan,

Possible if the property and guarantor qualifies. Typically up to 70% CLTV for second position HELOCs with institutional funding but rates are definitely higher than DSCR so you'd have to compare agains the blended rates

This video was all I really needed as it was almost fully encompassing. Highly recommend

Hi Rae,

I know programs for 10% down for first timers but 0% down would be pretty difficult. I wouldn't say impossible as any individual can loan you money at the end of the day as a private lender, but most lenders won't even go to 0% with experience. It's also very risky to do 0% down, as even experienced flippers always mess up on budgeting/construction.

 Most lenders would not be able to do this or would be limited to low LTVs (60-65%). A few and some local lender could be higher if there's comps in the area. How close are comps and are there many?

Tough to refinance with late payments especially into 30 year mortgages. Doing another bridge financing may be possible. What's your credit score looking like?