All Forum Posts by: Ryan Brooks

@Zach Edelman

I would definitely appreciate that. What info would you need?

@Myrtle Mike Thompson

Okay great! Thank you very much!

Does anybody here own a small condo that is not coastal in Myrtle beach (mine is inter coastal water front)?

How well does the property do during the summer season? Do you stay booked consistently? Are there any headaches I should look out for? Are STRs worth it or should I go the long term route?

I’d love to be able to use it a couple times a year as well as be cashflowing decently.

Any information would be very helpful, thank you!
 

@Nicholas Covington

Yeah! It a conventional 30 yr fixed second home loan. 20% down with a rate of 6.125.

The 6.125 stayed consistent between 3 different lenders

@Eric Hobbs

Me too! Not a while lot of cashflow, but looking forward to decent appreciation with it being on inter coastal waterway! Thanks 🙏  

@Eric Hobbs

yes, your first comment reassured me and you’re the guy that would know. Thank you very much for your knowledge!

@Nicholas Covington

thank you! Yes it is under “second home” and I have to put 20% with credit score over 740…..but the consensus seems to be that this is normal. I just wanted some feedback and knowledge and you’ve helped a lot. Thank you

It’s a 30 year fixed and I’m a buy and hold investor. The loan officer tells me that as an investment loan that this is a fee I’m being charged for my rate. I did not ask for discount points and he tells me that it’s not an option for investors?

I’m being charged 2.85% for discount points at closing on a secondary/vacation home mortgage. Seems a bit high. Can someone please advise?

I live in the northeast but I’m purchasing in SC where taxes are considerably lower, so I assumed closing costs would be less, but they’re turning out to be about the same with this fee!