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All Forum Posts by: Matt Cruz

Matt Cruz has started 6 posts and replied 18 times.

@Curt Warner Actually yes I am first time home buyer.  Our current house is in my wife's name.  Feel free to give your friend my number.  I'm free to talk any time tomorrow.

Thanks,
Matt

Yeah my wife has worked that job for almost 10 years.  The guy we were working with locally said they actually just changed that rule with Freddie Mac where you only needed 1 year.  Sounds like 2 years federal tax return for self-employed is required now.  

Looking to buy a new primary residence here in NC.  Wife has a W2 job and I have been self-employed for 15 months.  Does anyone know of any lenders in North Carolina  that can work with just 1 years' federal tax returns for self employed? 

Thanks,
Matt

Post: Looking for Hard Money/Private Money Loan. 6-8 month loan

Matt CruzPosted
  • Goldsboro, NC
  • Posts 19
  • Votes 2

Hi Everyone,

I'm looking at buying a house at auction within the next week.  Estimating purchase price $130k-$160k.  House is bank owned and currently valued around $230,000.  Since the house is being sold as-is, conventional loan is not an option.  I have a local bank that will do a cash out refinance after 6 months.  Please contact me if you are interested in funding this opporunity.  I can supply more information if interested.

Thanks!
Matt

Post: 10% down without paying Mortgage Insurance?

Matt CruzPosted
  • Goldsboro, NC
  • Posts 19
  • Votes 2

Awesome. Thanks so much for the excellent advice! Seems like everything is finally starting to fall into place to start my REI.

Post: 10% down without paying Mortgage Insurance?

Matt CruzPosted
  • Goldsboro, NC
  • Posts 19
  • Votes 2

Thanks for the info @Alexander Ross !

My credit score is right around 800 so that shouldn't be an issue.  

Post: 10% down without paying Mortgage Insurance?

Matt CruzPosted
  • Goldsboro, NC
  • Posts 19
  • Votes 2

Sorry if this is the wrong forum for this question, but I'm hoping someone can shed some light.

Looking to purchase a house to live in (going to rent out my current house).

Purchase price will be somewhere around $410k - $430k.  I would love to put 10% down on this property, however I was hoping to eliminate the need for mortgage insurance.  

What is the best type of loan to get in this situation, and is there anything out there that exists for what I am looking for? I've done a bit of reading on FHA, conventional 97, etc... but I'd rather get an opinion from an expert.

Thanks!
Matt

Hey Adam.  Welcome!  I'm new here as well living in Goldsboro, NC.

Just wondering if there is any active members in the Eastern NC regions?  I'm looking to purchase my first investment property within the next 6 months and would love to network with anyone already doing so.  I'm currently around the Goldsboro/La Grange area.