All Forum Posts by: Mark Fein

Shanor,  I am licensed in Florida, Georgia and Michigan.

HI Christian,   I am licensed in Florida, Georgia and Michigan.    

 Hi Kevin,

I just wanted to connect with you.  I am licensed in both GA and FL.  Please PM me, if you still have lending questions.

 Hi Christian,

I am a lender and I can help if you want to message me.   I am orginally from Grand Rapids and began my career originating loans in the GR/Wyoming area.   It would be great to connect with you.

You are correct that FHA MIP is for the life of the loan with less than 10 percent down and it goes away after year 11 with 10 percent or more down.

You mentioned buying an investement property; however, FHA loans are only for primary residences, unless your plan is to occuppy it and rent it later on.

I would compare the out of pocket cost of putting 20 down and trying to get a loan with no/minimal points.   Your out of pocket might be comparable and your principal balance would be lower.

 Great advice here.

HI Lauren,

What are your loan term goals? If you plan to purchase multiple properties long term, it is probably best to purchase the first one with FHA finaing 3.5% down and pay the PMI as long as you plan to occuppy the property for the first 12 months. I am a lender in FL, if you want to DM me and we can work through some numbers.

You don't want to refinance with that low rate at this time. You may want to consider opening a HELOC on your current residence, but it is important to do this while you still occupy it as your residence. You can use your home equity to put a larger down payment on your house hack. I am a lender in Florida in you want to DM me and continue the conversation.