All Forum Posts by: Michael Cohen

@Fred Jung Kim the bigger concern is that any lender will need to calculate your monthly income, and as a commission - based income, they are required to average the past two years, which you don't have. you may have to wait to purchase unilateral you've been commisdion - based for two years. your other option is PML/HML.

203Ks are very complex loans and it's imperative you work with a loan officer - not just the lending institution - who specializes in them. Big Banks vs. Smaller lenders is less important than the quality and capability of the loan officer him/herself. Ask your realtor for some recommendations.

@Matthew Orme - I too, strongly suggest @Chris Mason

Melvin List is very active on these forums and gives fantastic advice. He's based out of Tampa but you should definitely connect with him.

Do not lower your student loan payments for a month or two. This will not improve your debt to income ratio him in anyway. Keep it where it is, don't touch it, talk to a qualified lender who knows what s/ talking about.

or have a job offer lined up.

If you are definitely exiting the military within the next 12 months, to be eligible for a VA loan, you must provide verification of a valid offer of local civilian employment following the release from active duty.

I can't tell you what you should do; I don't know your financial situation, risk tolerance, etc. Time Value of Money and compounding interest both suggest that a good deal today is far better than a great, or even perfect, deal 4 years from now.

I will tell you that I wish I had started much earlier. Ideally when I was young and single. I would be in a much better position today if I had.

one of the units must be your primary residence.

1-4 unit properties are eligible on VA loans.