All Forum Posts by: Michael Loza

@Ron Hill thanks for the message, thank god for Bp!

@Joe Spinelli i researched the cares act but it looks like you have to submit proof of hours deducted or covid related

@Jodie Beyer that is what i am afraid of the most is the structuring, the lender i spoke to told me to “spread out” the deposits month after month and i asked him of the structuring law which he had no clue of what i was talking about.

@Jason Wray well my plan was to pay off the heloc within 2 years and you dont get penalized for paying it off, and the reason i didnt want the fha was paying the extra mip. I think it will work out

Hello everyone, i am looking at my options for my first purchase and it seems i will pick the 80/10/10 loan as i do not have the full 20% down for the purchase of 700k home. At 2.8 apr for the first loan and 4.5 percent for the heloc loan. Anyone have any good or bad experience with the loan if so the pros and cons? Thank you in advance!

@David Kelly thanks david, i appreciate it

So i am getting pre approved for a conventional loan and am short some cash (30k) , i told my lender i have the 30k in cash (which was a gift), then tells me to deposit the cash into my account and told me it shouldnt be an issue as far as the irs is concerned. Is he right or am i too cautious?

@Bonnie Low thanks for your input!

@Brian LaLonde i totally agree, and i am going to take advantage of the cares act before it expires. I appreciate your insight , thanks brian!

@Lauren Smith thanks lauren