All Forum Posts by: Stacy Raskin

Now is the time for savvy investors to buy. When rates drop, we will be back to the days of 15 offers (this actually happened to me last year). Now is the time to buy when you can get seller concessions (depending on the market) for buydowns, closing costs, etc. That way when rates do drop, you will have the property and will be able to just get a lower rate versus being one of the 15 people fighting over the same property. 

I have a friend who all he ever talks about is how his pool costs him money and he wants to fill it with dirt : )

What state would the loan be for?

There are also fixed second mortgages available for investment properties that are 1-4 units. 

What state are you thinking of investing in?

@Tamera Muniz, what state are you in?

@Alexandra Arnhold, I work with a lender that does nonwarrantable condos. I'll send you a direct message. 

@Alon A., really it depends on what your goals are. A mortgage broker can help you find your best options as you will not be confined to just one lender's products and rates. Rates and products are similar across lenders but the cost can vary meaningfully. Banks like Chase and retail lenders like Rocket Mortgage generally charge more to the borrower for various reasons including to pay for their overhead costs which can run significantly higher than an individual mortgage broker or small team.

What state are you looking to buy?

@Michael Hunt, one of the big factors is your debt to income (DTI) ratio. Lenders will look at your total overall debt versus your monthly income and some will lend up to 42-43% and some will lend up to around 50% with a cost being built into the rate for the higher DTI.

Getting the residential property secured may be helpful depending on your income and debt situation. I'll send you a message as well. 

@Brian Bangs, what is the average price for each home? With that information, I can get a better idea as to what might be helpful due to different programs.