All Forum Posts by: Leslie Swart

contact SBA sba.gov/disaster.  they can apparently help you with loss of rent. They can also help the renters with loss of their personal property up to $100,000, I believe.

thank you.

borrower owns land worth 1.2 mill. Needs a construction loan for 1.3 mill to build a duplex. Prefers traditional lender over hard money. 

I agree. If you are going the DSCR route, with as little money down as possible, you are going to want to get your credit score up. I have seen lenders that will allow scores as low as 680 but they want at least 35% down, if not more.

Hi Morgan.  I love your enthusiasm and think that it is great that you set a goal for yourself.  I would love to help with any questions you have about investing in FL or at least point you in the right direction.  I own a mortgage brokerage in FL. My business partner is from MD. My brother-in-law is also from MD and has a wholesale real estate company in FL...soon to have one in MD as well. So again, happy to help in any way I can.

Sounds odd.  Maybe speak with another lender. 

I saw another post on BP that said Key Bank of FL, Union Bank and AmericaFirst may have HELOCs for investment properties. The rate for an investor HELOC will most likely be higher than your rate for a cash-out refi. However, closing costs should be less on an HELOC.

Whether it makes sense to go for the HELOC vs cash-out refi will depend on a few things, but how much additional cash you want to take out will be a big factor.

FHA guides actually allow you to get a second FHA loan if you are relocating at least 100 miles away from your current primary residence.

Hi. It would be one thing if you could get a lower interest rate by going with a lower LTV, but going from 80% to 78% isn't going to do that for you. If I am understanding you correctly your cost is your cost, whether you pay at close or roll it into the loan, your net effect is the same.