All Forum Posts by: Miranda Holland

The private lending companies I work with aren't interested in taking 2nd position. They want to be 1st position lien holders only.  

You can get her off the mortgage and deed when you refinance. I recommend you ask your lender about that option before doing a bridge. 

Is she looking for an investment property that she doesn't live in or is she looking for a home she plans to live in?

Private lending companies don't require experience at all to refinance. If your rents covers the loan and your property value meets the lender's criteria , you'll qualify 

In the private lending industry, most lenders require experience with renovations before they offer a new construction loan to someone. Your name being on the Hud for multiple properties might enough to qualify for a single family new construction loan. 

After a few successful deals in that area, they're willing to lend for the construction of multifamily homes

In the private lending industry, rates are increasing for cash outs. Whether or not you got a good deal depends on the property and your credit score. I'll send you a DM

You could try working with a mortgage broker or, maybe the Navy Federal Credit Union might help you buy a home.

But if you can't get a home loan from an institutional lender, you might want to look at some seller financing deals. When your employment situation is more stable you can get a refinance loan from the bank and make a ballon payment to your seller.

My statement is based on what I'm seeing for 75% LTV