All Forum Posts by: Lucy Smi

My husband and I have three mortgages together (for primary residence and duplex rentals) and we are at the DTI max, thus limiting our ability to acquire new properties. We cannot re-fi since neither of us qualifies alone. What are some creative ways of overcoming the DTI problem? I heard about syndication or hard money lending (sound intimidating), but don't know much about them.

@Jonathan Taylor

How long would a recent refi show up in my credit report that the lender or underwriter pulls? 30 days? 60 days? A recent refi increases my DTI.

We just had an inspection done on a 2-family rental property. The report says it needs roof replaced immediately. The roof replacement costs $15k. Should we ask the seller to lower the purchase price by $15k, or pay $15k towards our closing cost and mortgage (we are putting 25% down)? We don’t have the cash to replace the roof right away. By the way, the periphery cash flows only a few husband dollars a month.

􏰖􏰅􏰅􏰶 􏰌􏰠􏰄􏰋􏰬􏰮􏰈􏰌 􏰠􏰁􏰵􏰈 􏰌􏰄􏰬􏰋􏰄􏰶􏰄􏰍􏰁􏰋􏰂 􏰬􏰃􏰁􏰋􏰫􏰮􏰈 􏰮􏰅􏰌􏰌􏰼􏰗􏰈􏰂􏰈􏰃􏰄􏰅􏰃􏰁􏰂􏰄􏰅􏰋􏰕 􏰂􏰠􏰈 􏰶􏰮􏰁􏰌􏰠􏰄􏰋􏰬􏰌 􏰠􏰁􏰵􏰈 􏰯􏰈􏰈􏰋 􏰇􏰁􏰍􏰪􏰈􏰗 􏰤􏰄􏰂􏰠 􏰂􏰅􏰫􏰃 􏰁􏰋􏰗 􏰌􏰅􏰩􏰈 􏰌􏰠􏰄􏰋􏰬􏰮􏰈􏰌 􏰁􏰃􏰈 􏰩􏰄􏰌􏰌􏰄􏰋􏰬􏰡 􏰛􏰠􏰈 􏰍􏰅􏰋􏰗􏰄􏰂􏰄􏰅􏰋 􏰅􏰶 􏰂􏰠􏰈 􏰃􏰅􏰅􏰶 􏰄􏰌 􏰅􏰮􏰗 􏰤􏰄􏰂􏰠 􏰗􏰈􏰂􏰈􏰃􏰄􏰅􏰃􏰁􏰂􏰄􏰅􏰋 􏰌􏰅 􏰩􏰫􏰍􏰠 􏰌􏰅 􏰂􏰠􏰁􏰂 􏰂􏰠􏰈 􏰃􏰅􏰅􏰶 􏰤􏰄􏰮􏰮 􏰋􏰈􏰈􏰗 􏰃􏰈􏰇􏰮􏰁􏰍􏰈􏰩􏰈􏰋􏰂 􏰄􏰋 􏰂􏰠􏰈 􏰵􏰈􏰃􏰉 􏰋􏰈􏰁􏰃􏰼􏰄􏰩􏰩􏰈􏰗􏰄􏰁􏰂􏰈 􏰶􏰫􏰂􏰫􏰃􏰈􏰡 􏰛􏰠􏰄􏰌 􏰃􏰅􏰅􏰶 􏰄􏰌 􏰁􏰂 􏰂􏰠􏰈 􏰈􏰋􏰗 􏰅􏰶 􏰄􏰂􏰌 􏰫􏰌􏰈􏰶􏰫􏰮 􏰮􏰄􏰶􏰈 􏰌􏰇􏰁􏰋

􏰖􏰅􏰅􏰶 􏰌􏰠􏰄􏰋􏰬􏰮􏰈􏰌 􏰠􏰁􏰵􏰈 􏰌􏰄􏰬􏰋􏰄􏰶􏰄􏰍􏰁􏰋􏰂 􏰬􏰃􏰁􏰋􏰫􏰮􏰈 􏰮􏰅􏰌􏰌􏰼􏰗􏰈􏰂􏰈􏰃􏰄􏰅􏰃􏰁􏰂􏰄􏰅􏰋􏰕 􏰂􏰠􏰈 􏰶􏰮􏰁􏰌􏰠􏰄􏰋􏰬􏰌 􏰠􏰁􏰵􏰈 􏰯􏰈􏰈􏰋 􏰇􏰁􏰍􏰪􏰈􏰗 􏰤􏰄􏰂􏰠 􏰂􏰅􏰫􏰃 􏰁􏰋􏰗 􏰌􏰅􏰩􏰈 􏰌􏰠􏰄􏰋􏰬􏰮􏰈􏰌 􏰁􏰃􏰈 􏰩􏰄􏰌􏰌􏰄􏰋􏰬􏰡 􏰛􏰠􏰈 􏰍􏰅􏰋􏰗􏰄􏰂􏰄􏰅􏰋 􏰅􏰶 􏰂􏰠􏰈 􏰃􏰅􏰅􏰶 􏰄􏰌 􏰅􏰮􏰗 􏰤􏰄􏰂􏰠 􏰗􏰈􏰂􏰈􏰃􏰄􏰅􏰃􏰁􏰂􏰄􏰅􏰋 􏰌􏰅 􏰩􏰫􏰍􏰠 􏰌􏰅 􏰂􏰠􏰁􏰂 􏰂􏰠􏰈 􏰃􏰅􏰅􏰶 􏰤􏰄􏰮􏰮 􏰋􏰈􏰈􏰗 􏰃􏰈􏰇􏰮􏰁􏰍􏰈􏰩􏰈􏰋􏰂 􏰄􏰋 􏰂􏰠􏰈 􏰵􏰈􏰃􏰉 􏰋􏰈􏰁􏰃􏰼􏰄􏰩􏰩􏰈􏰗􏰄􏰁􏰂􏰈 􏰶􏰫􏰂􏰫􏰃􏰈􏰡 􏰛􏰠􏰄

@Tung Pham

I would choose option #2.

@John Underwood

Just curious how you acquired rentals within your ROTH?

We scheduled to have a property inspection next week. But the state just issued a stay at home order. Will the inspection be delayed?

@Jana Nakamura

The rate is way too high. I would shop around more.

@Justin Tahilramani

Isn’t it better to buy down pts since I plan to keep the property for 12+yrs?

@Seth Williams

With excellent good credit

Is this a good 30 year rate to lock for 60 days?

Amount: $210k, 25% down on a 2-unit mfh.

3.5% and paying 2.5 points

The lender doesn’t allow wrapping the closing costs and points into the loan. I was a bit surprised.