Down payment amount varies and more you put down the highre you will be in the queue of applicants, also down payment varies per your credit...Dodd Frank IS in play!!

I get rid of bad tenants regularly and have never paid any of them to leave.

i set strict qualifications for my rental 3x income credit score of 700. 

Hi I am looking for HELOC on a primary SFH...speaking with some lenders I've run into two issues....(1) some won't give you credit for rental income if you haven't owned the property for two years (show two years of stable rental income) which can skew your DTI unfavorably (2) one lender said they don't give a HELOC if a borrower is carrying more than 6 mortgages.Would anyone have any leads for a potential lender?

They look at your credit profile and get you business lines of credit and credit cards.

Thanks, He either has to give you the deposits or he has to give you a line item credit at the closing for the amount of the deposits, so that you can set aside the resulting credit money.The funds are NOT his.

Hi Wendy,Coming from a Banker in most cases the Heloc is a Line of credit you only pay on the amount you use and a Heloan is the bank/lender gives you all cash.Lets say you borrow $10K as a heloc and in the first few months you take out $1500.00 your payment is only going to be based off the $1500 and not the $10K because the rest in the line of credit (LOC) not being used - Same as a credit card.

I would never advise my customer to take a 5 YPPP considering we are have been moving into a downward trending rate market since 2024. 3 Year Prepay Max but if you plan on doing renovations or taking cash out on the ARV then a 1-2 YPPP would be Max.I would also advise buying the rate down before you decide to take a 5 YPPP using seller credit, equity or closing funds.

The offer to “help” hopeful participants obtain increases in their credit card limits6.

Local banks and smaller credit unions are most aggressive in this space.