All Forum Posts by: Ronny Gonzalez

@Benjamin Fine

Thanks a lot for your response. A lot of great info there. I'll make sure to remember this for future transactions. Asking for an LE is an awesome tool to compare lenders.

@Chris Mason

@Jason Little

thanks for the replies. Definitely makes sense. I prefer working face to face as well, but i just had that question in the back of my mind since they promise so much. I guess like everything with advertising, you cant believe everything they tell you.

I see a lot of online companies promising extremely attractive rates for conventional loans. Some have even said they do 3.75% with no points, with 740 credit or above. Now, I have talked to lenders in person and everyone tells me that this is fake, its all a lie. I've gotten about the same rate with most lenders in person, between 4.25 and 4.75. Anyone have any experience with these online lenders, any opinions? Can this be true? Its very enticing but it sucks getting your hopes up for something that is a lie and on top of that losing so much time on a contract. 

By the way, this is for a 20% down, conventional loan, for my primary residence, not for investment.

@Carly Ogletree

sitting down with a lender would probably be one of your best choices right now. they can gather the information they need and tell you if its possible for you to get a loan right now as well as up to how much they can approve you for. 

@Lance Lvovsky Thanks for the welcome. I see a lot of investors in the ft. lauderdale area, might have to check that over there. Bad thing is i live pretty far from it. 

btw, i tried messaging you, but have no idea how. Can you send me the info of that CU when you have a chance? Would be great to start talking to them and see their requirements. 

Thanks!

Hi Ahsan, I was in your situation a few months ago as well. I was looking for a lender that would finance me with only one year of 1099 so i didnt have to pay back outrageous taxes for another year. I believe it was Fannie Mae that had a program to get financed with only one year tax returns but I was told they changed that to two years in March. (I could be wrong about it being Fannie Mae though, not 100% sure). 

Not sure how the process works with tax returns and W-2's unfortunately. 

Anyways, hope you get it resolved and are able to buy your home!

Hello everyone. Good to be here. 

Anyways, I'm 25 and I am currently in process of buying my house. This is going to be my primary residence. After that i want to get into buying and renting. I am learning as much as i can and reading as much as i can on the meantime. After this closing i wont have any cash right after but i am giving 20% down for the house which will be 48k. If i get a heloc will i be able to have access to all 48k or a specific percentage of the equity of the house? Anyways, I will be focused on starting with an apartment or townhouse. I want to start small and eventually work my way to bigger multi-family homes and apartment complexes. I am extremely focused on doing this and hope to have my first rental by the end of this year. 

Looking to connect with people here and start establishing relationships. Anyone from the South Florida area that can help guide me into the right direction or just give me some tips, i'll really appreciate it.