All Forum Posts by: Debra Muth

Thank you, I am amazed that the realtor will not even put an offer in without all this bank approval junk. I realize when the bank crash happened it caused a lot of issues but wow not even an offer to go through. I guess they don't want to waste their time either.

Well, today I made my first 2 offers. I put an offer on a rental and a possible flip that is a foreclosure. Wish me luck on an acceptance! 

Thank you I will look into this. I remember this before it is coming back.

I know for sure one is not a Freddie or Fannie it is a farm loan private. I thought you had to live in the home to get a Freddie. That is new to me. What about a 230 or 203? Where you can get money for rehab in the loan you don't have to live in that either?

That is good to know. I do not currently have a fannie or fredddie mortgage in any of my other properties the 3 I have are conventional loans and they are for personal properties. This purchase will be the first I will be doing as a rental property. Now I also understand that I would have to live in that property to qualify for a Fannie or Freddie property, correct? I was thinking about having my son who is 20 live in the property and become a partial owner of the property to make this work.

Thank you for this information, this is great to have. It is difficult to navigate the marketing in the commercial world compared to a SFH purchase to live in without renting out.

Can you explain how the appraisal completed value works without putting $ down?

Thank you

I have 2 potential good deals. One that I think would make a good flip and the other that is a good rental deal. I already have 3 mortgages so I understand I can only have 4. I would like to find an investor for the flip but never did that before. Any suggestions are greatly appreciated

I have been reading that there is a max of 4 mortgage loans a person can have is this a bank rule and how does one get around this?