All Forum Posts by: Osvaldo Benavides

Can I do a cash out refinance while having high debt to income ratio?

What is people's experience with a non-qualified mortgage? And how does the refinance work with that type of loan product thank y’all?

the only loan program that I found that does not calculate the debt to income ratio is the (non- qualified mortgage) are there any others that I haven't found? 

hey there im also from houston if ya'll ever want to partner up i'm more than willing 

I’m about to close on a 500k property. I would like to purchase another home soon I tried going to the traditional bank but they have denied me due to my debt to ratio will a portfolio lender lend to me?

How would y’all structure a deal using other people credit to take out a mortgage loan? Thank y’all

My neighbor is selling his house for 70k the house will need 30k for rehab to rent it out i cant get a mortgage right now because im in a process on closing on a house this month my dad asked i could tap into to the equity (heloc) on his house to use to buy the neighbors house.. expected ARV 130,000 conservative.

bank will lend 60k i would have to bring 10k 

rate 4.2% for 10 years

monthly payment $700

property taxes $208 montly / $2500 yr 

insurance $85 montly (high end) 

rent income once it's rehab $1200 

variable exp $310 i could drop the exp since everythig will be new..

i will slightly be breaking even  

loan will be paid off in five years and i will have a mortgage free invesment property. 

should i commit or move on

what area of town?

what is the cost of sqft for a rehab in Houston and any referral on GC or local contractors in Houston. 

On the rehab part should I hire a GC or sub contract the work on my own?