All Forum Posts by: Derek Brickley

Hey Byron, depending on the situation there are some community lending incentives in Las Vegas we offer for investors.  Not sure the full scenario but feel free to reach out.

 Discounted rates/fees but depends on price, occupancy, employment, really all details.  

Hey Gabriel!

I'll keep it brief: FHA Streamlines are absolutely real and a great option. Typically though, your servicer or other companies will not really know whether it makes sense for you. A 5.75% streamline today seems like something to grab your attention but you would soon realize that's not the rate they would be offering as they say "no-cost rate changes".

Advice: Reach out to your lender or someone experienced with streamline refinances who can help advise a more accurate estimate for you.  It will make sense to do this, I'm not convinced that rates have dropped enough for that yet.

(Finally yes if timed right you can skip up to two mortgage payments)  Feel free to reach out with questions or if you feel we might be able to help.

Hey Patrick!  Not sure the full situation, so hard to say if we could possibly help.  Is this a primary residence or investment?  There are some incentives depending on the situation and property.

Since DSCR prices differently (non-conforming) the changes will be different. Look at the 2 year treasury for comparable direction. Depends on the exact scenario but could be as low as high 6's with prepayment penalties. Typically quoting in the 7's though.

 Sure, I'll be available for a bit here this morning

Hey Ashley!  I got into a househack last year at 23 so it's definitely something to consider.  My take: Single family will always have more appreciation potential and might have less maintenance.  Multifamily is great for spreading out capital expenditures between mulitple units and living for less out of pocket each month.  

What I did: Purchase a duplex -> force equity with repairs -> increase rent to make more cashflow -> refinance based on the increased value and lower my payments 

Basically a BRRRR except as a primary residence there wasn't all that much cash put in so I only got $7k back out. I used the 5% conventional and especially if you're looking to build equity there will be benefits to doing so.

Hey Rolando,

Congrats on that opportunity man!  There are a number of options out there to help with househacking (I bought a househack last year).  Would need to know a bit more with your situation, but we typically work with guys in the NHL who might be starting out and are looking for some possible help on getting into their first home.  Feel free to reach out here, happy to see if we might be able to help.

Hey Michael!

There are a few options that some people have used when they were looking to buy a new home before selling (and ran into DTI issues). The true bridge loan could work, but as you might have seen you'll be paying interest on that difference and so you may still run into DTI issues. The alternative we've used is a "Buy Before You Sell" program. There is an additional cost, but with that you don't make payments and there is no interest in the interim and you can still access the equity in the home to use towards your downpayment of the new home. Feel free to reach out if that's something that might be helpful for you

Hey Mike!  Not sure if it would make sense for you specifically, would need to know a bit more about your situation and everything, some people we help that are looking to consolidate debt consider refinancing to lump all their payments together since a primary residence lending option has lower rates than some of the alternatives.  Feel free to reach out if it might be worth looking into