What’s the purpose of the loan and what is the collateral?

Points for the loan 1-2 points, so now you are in $3,413 roughly. 

I'm guessing an investor who could afford an $800K house wouldn't have trouble getting a loan, but maybe they would like being able to make a small or 0 downpayment. 

But, nobody knows because we have never come across a situation like Detroit, .

I am looking into my first property and have been pre-approved for a renovation loan from a conventional lender.

There are several myths that we have to debunk before someone truly believes they can do it.You need millions of dollars to do a dealThat it’s too complicated to figure outThat permitting takes yearsIn those communities developments cost way less (think a couple hundred thousand along with a loan from a regional bank), permitting is not difficult (much less red tape), and the towns are small enough that both the city staff and the local architects and engineers and contractors all work with you to help you navigate the process since you’re all invested in making your community better.Note: The big boys can play in the primary & secondary markets.

For comparison, a Navy Federal FCU personal loan will be in the 15s%

Want to get a loan for $250k in AZ

However, the ex wife name remains on the loan itself.

.~ I will most likely purchase the first home (multi-family) using a bridge-DSCR loan combo or a FHA203K (3.5-20% down).