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13 January 2025 | 5 replies
Here's how they break down:Fannie Mae HomestyleMinimum Down Payment: 3%-5% (Primary Residence) & 20% Down (Investment/Second Home)Credit Score: 620Minimum Loan Amount: $50,000Maximum Loan Amount: Per County Loan LimitsOccupancy Types: Primary Residence, Second Homes, and Investment PropertiesUnit Maximum: 4 UnitsAcceptable Renovations:-Structural Improvements (e.g., new roofing, foundation repairs)-Cosmetic Enhancements (e.g., new flooring, updated bathroom/kitchen fixtures)-Energy Efficiency Upgrades (e.g., solar panels)-Accessibility Modifications (e.g., ramps, widened doorways)-Luxury Items (e.g., pool)-LandscapingNot Acceptable Renovations:-Commercial Use (e.g., turning a residential property into a commercial property)-Temporary Structures-Non-Residential Buildings (e.g., barns, stables)FHA 203(k)Minimum Down Payment: 3.5%Minimum Credit Score: 620Minimum Loan Amount: $50,000Maximum Loan Amount: $524,225Occupancy Types: Primary Residence ONLYUnit Maximum: 4 UnitsAcceptable Renovations:-Structural Improvements/Reconstruction (e.g., adding rooms, bathrooms)-Cosmetic Enhancements-Eliminate Health and Safety Hazards-Energy Efficiency Improvements-Major Landscaping (e.g., grading, tree removal, adding walkways)Non-Acceptable Renovations:-Luxury Items-Commercial Use-Temporary Structures-Non-Residential BuildingsBoth of these renovation loans are similar in many ways, but the key differences are:1.
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6 January 2025 | 4 replies
Use services that can validate the authenticity of documents and employment history.Require Detailed Applications: Ensure that the rental application captures comprehensive information, making it harder for fraudulent applicants to provide fake details.Conduct In-Person Interviews: Meeting applicants in person can provide additional insights into the authenticity of their application and allows you to ask follow-up questions based on the details they've provided.Utilize Professional Screening Services: Professional tenant screening services are invaluable for conducting background checks, credit checks, and criminal history checks.
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11 January 2025 | 11 replies
Lots of cities have restrictions..Arlington limits to a fairly small area of town, Ft.
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8 January 2025 | 38 replies
Do you think that is fair - to be forced to pay for your manager's mistake?
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9 January 2025 | 15 replies
I'm wondering if a BLOC could help to build my business credit.
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19 January 2025 | 41 replies
After all rape is just the word of the victim that it was not consensual sex, breaking and entering, well the door was already broken, every theft, every credit card fraud, well the owner said I could.
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9 January 2025 | 17 replies
INstead of just saying "no" we asked them to check with their credit card company if they offer travel insurance yada yada.. we got a 5 star review form them without giving a refund.
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6 January 2025 | 6 replies
Framing your position as fair such as explaining the difficulty of finding renters during off-peak months - might help maintain a positive relationship and reduce risks of property damage.Prepare for What’s NextEven if the tenant moves out early, ensure you’re protected.
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11 January 2025 | 2 replies
Class C: These apartments are typically over 30 years old and are in fair to poor condition.
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13 January 2025 | 6 replies
However, there's a loss on the 2023 Tax Returns, and Net Income is $45,000 in 2022 (Client has lots of writeoffs) What loans could I use that only consider:- Bank Statements - 1099s - Credit Score Please contact me with options.