All Forum Posts by: Zacharee Carmack

Hardly any lender is going to want to be in second position. The usual path is to pay off the first with the new loan that incorporates the old balance that will then put the new lender in first position. Any Fannie Mae lender could probably do that. Is there a reason why the first couldn't be paid off? Why does it need to be a second?

Randy

Second home mortgage or vacation home, not second position.

0 Votes

Coastal NC, North Carolina

Hello,

Currently looking for a lender who can lend on a single wide mobile home and land. This loan would be as a second and/or investment property in NC. From my understanding is Fannie/Freddy only allows lending on single wide if it is a primary residence.

Anyone have any programs that could solve this problem?

1 Vote

Coastal NC, North Carolina

Hello,

Anyone have any programs that could solve this problem?

0 Votes

Southeast NC, North Carolina

Quote from @Jason Crowe:

Erik i have done multiple of these deals and if you would like to talk about specifics let me know. Im very experienced with these and I know loan wise what to watch out for as well.

Jason i would like some more info on this. Im trying to find a rental and info is very limited as you know.

0 Votes

Originally posted by @Account Closed:

Ask, "how much is 1 + 1?" and when the CPA asks, "what do you want it to be", you found a good CPA!

This has won the internet today for me.

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Hopefully closing on a property on the 27th. When taking all of my documents to a CPA what are some of the questions i should ask about real estate tax and how it can help me?

1 Vote

Originally posted by @Ivy Alexander:

YES! Well mortgage broker anyway. For investment properties its a HELOAN vs HELOC.

I'm a Nebraska licensed REALTOR and Mortgage Broker in Omaha.

can you send me rates and requirements?

0 Votes

Does anyone have a bank doing HELOCs for investment properties? I think I am sitting around 80% LTV currently.

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Originally posted by @Matt Devincenzo:

No, the original loan type has nothing to do with the current status of that home. So the day you move out of your first home, any loan you would apply for on that residence would be non-owner occupied. You by definition only have one 'primary' residence.

Thank you, wasn't sure if that was a loop to look into.

0 Votes

All Forum Posts by: Zacharee Carmack

Zacharee Carmack has started 7 posts and replied 17 times.

Post: Need a special type of Lending

Post: Need help finding special financing

Post: Need help finding special financing

Post: Need a special type of Lending

Post: Any solid info on VA Vendee financing? Any lenders?

Post: Tax preparation for 2021

Post: Tax preparation for 2021

Post: Heloc for investment properties

Post: Heloc for investment properties

Post: HELOC Eligibility dilemma