All Forum Posts by: Mykhail Bolden

@Harjeet Bhatti

What are your bank requirements to close on a 3 flat during this pandemic? DTI, reserves, credit score, etc?

Hello everyone. I was scheduled to close March 27th, but unfortunately the COVID-19 showed up and canceled my plans. What are your banks requirements to close on a small multi family? Credit score, DTI, reserves, etc?

Hello I had a week to close, but unfortunately the COVID-19 pandemic showed up! Long story short I didn't have the credit requirement to close. However I hired a credit professional and my credit is increasing drastically. Since there are new guidelines and rules everyday my question is what are the requirements with your bank/lender to close on an FHA multi family 3 flat? I am in Chicago as well. DTI, credit score, reserves, etc?

@John Warren

No I’m not currently u see contract. My pre-approval is being written then I’ll be shopping. Trying to get an early start. And thank you it’s Monday morning so I will contact lender and broker.

Hello all. I am in the process of obtaining a property with an FHA 203k loan. I understand the construction part of the process is very hectic, so I want to start early by trying to find a GC for my project. It will be a multi-unit on the south or east side of Chicago. If anyone is interested or can refer me to someone please feel free below and I will take it from there. Thanks in advance!

Nice! Thanks for sharing and including all details!

@Karen Swinger

I’m thinking about driving for dollars soon. If I do find a seller, how do I get a contract for them to sign?

@Karen Swinger

Congratulations Karen! I’m looking to start wholesaling in Chicago area.

@Matt Brown

Ok. What about BRRRR method with VA loan?

@Zyaad Khader

Welcome!! If you have some events to attend in the Chicago area please let me know.