All Forum Posts by: Shaun Marks

@BG Stumberg I see valley bank is a division of glacier bank which is western security bank here in billings is Madison a personal lender or a commercial lender ? Also Thanks again for the help

@BG Stumberg I will follow up for sure thank you for that information

@Sam Stabler I just did one with penfed cu they do rental property up to 80 LTV were pretty easy to get going so far really happy with them anyone can become a member

@Tim Debronsky I found some info online and Keith made a point if I understood correctly if I’m paying off a heloc with it it’s considered a rate and term loan not a cash out refi long as I pay off the heloc with it the part I’m not 100% is I have the heloc on the 1st

Home not the 2nd home that’s free and clear so can I do a rate and term loan to pay off the heloc toward the 1st home loan if banks dig that deep 🤷🏻‍♂️ sorry if I made that sound confusing

@Zach Rucker I got a heloc on my first home to buy the 2nd house yes so I like to get a cash out refi loan on 2nd home now to pay back the heloc to make it available again to free things up and lock in a rate

So today I purchased a home and paid for that home off of a heloc I had on my personal residents so basically in banks eyes I wrote a check for the new home the seller wanted to do a quick close and didn’t want to lose out on the deal so my question is

is there a bank out there that will let me do a cash out refi from day 1 of ownership off of full appraisal for 75-90% LTV To get my heloc paid back and put some money back in my pocket I like to get a conventional 30 yr. mortgage on this property so my rate is locked and don't jump around property located in Montana

I notice everyone keeps saying fixer Upper homes to

Buy and rent out what everyone take on buying new or building new homes / multi family properties to rent out and try to use the brrr method ???