All Forum Posts by: Oye Dosumu

Do you know of any lenders that would do a conventional loan for 5%?

Hi.,

I'm in need of some help. I got a FHA previously, then refinanced into a conventional load, now I need to do a FHA because I want a bigger place, but they mentioned I cant get a second FHA in the same town. Anyone ever faced something similar?

1st place is a 3 unit, second is a 4 unit. Help! Thanks.

@Jaysen Medhurst, thanks for your input. All the utilities are seperate. the interest rate is pretty high and I intend to owner occupy. I cant believe its that high. but do you think its a good deal? I am putting down lesser than 20% but I noticed most of the calculations are based off of a 20% benchmark.. what are your thoughts?

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Bigggg congrats @Stacey C.!!!!!

@Account Closed, I am in the same predicament. I can afford places around 700, but its tough to find something that works here. However, saving is definitely not the best idea. Put your money to work now 0 thats the best way forward. And yes, there are some great deals in lynn if you are willing to live with the commute.

Cheers!

@Scott Morongell. I do intend to base my investments in Texas eventually, but I have to start in Boston because I stay here, and rents are too high. Everything is cheaper in Texas, and I feel like there is better ROI there.

I will reach out to @Lien Vuong and discuss privately. Thanks a lot @Gualter Amarelo! You're awesome!

Yeah, I realized its pretty much standard to do 20%. Thanks!

good to know @Heath Ryans, I'm just trying to find out what the extremes of financing are.. What is doable, and what isn't.. Thanks for the input. I ran the numbers based on 20% downpayment. I just wanted to know if lenders ever do 10%.