All Forum Posts by: Jim Blackburn

4 unit as primary residence with just 3.5% down. Live it in one year, move out, and buy another. Ask anything

Aaron Cullen It's fine. You can do it when the appraiser comes or even after the appraisal is done with a request for Reconsideration of Value. If providing additional comps that should have been considered, the sold comps must have sold within the last 6 months and be within a certain distance .

Dave Dalrymple 75% of purchase price within 60 days of closing is allowed with delayed financing guideline. If 60 days has last, then we need to wait 6 months after purchase, and then you can get 75% of the appraised value as cash back. Ask anything.

Rates are in the High3s to low4s for 30 fix.

Victor So it's best to go to a high volume direct lender that lends at wholesale prices vs the retail price you get at a bank. Get a Loan Estimate from your bank and get a quote from a reputable high volume direct lender and put them side by side on your kitchen table and go with the best one.

Michael Brown sounds like you'd be at about 90 LTV and be able to get out of FHA and into Conventional with some conventional pmi (which is better since it goes away after 20% equity without having to refinance like with FHA)... Ask anything.

Steven Carnahn you only get to use the FHA for primary residence so if you use it up now on a 2 unit, and you later go to buy a 4 unit investment, you will have to put down 25%. Have you thought about utilizing the 3.5% fha to acquire and control 4 units instead of 2?

Jeff Minc What is more valuable to you? A) The profit you came make on $80,000 (vs a 0% net internal rate of return trapped inside the equity) B) the .5 annual rate savings on the current outstanding loan balance

Abulele Woldulele 4.1 seems really high. Is this an investment property?

Tobey Porter - what specific questions would you ask a "financial advisor" that you couldn't ask Google? Just curious ....