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4 February 2016 | 26 replies
While brokers cannot bend underwriting requirements, your broker should be able to help you understand what you need to do to meet qualifications and find a lender/loan that better matches your situation.
25 January 2016 | 21 replies
When I made the original offer I included a pre-qualification letter from my lender.
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21 January 2016 | 10 replies
How do I find out the qualifications for an FHA Loan?
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27 January 2016 | 26 replies
If you look good to the mortgage broker have them write a letter on your behalf saying that if you apply for mortgage in 12 months chances are very good that you would get a mortgage as long as you keep your job and protect your creditNo that is not a mortgage qualification letter, but it should satisfy the ownerNext, I would get references from my previous landlords that you were an ideal tenant.
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8 February 2016 | 29 replies
Typical commercial lending is LTV 70-75%always an ARM, like 20 due in 10 (or even 5)property self-sufficient (aka DSCR 1.1 - 1.3 depending upon the lender)with an NOI that supports reserves 10%, vacancies of 12%1/2 year prepaid taxes AND insurance (last parts of PITI)Your personal credit should not be part of the qualification process.
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28 April 2016 | 5 replies
I would consider hiring someone if I found someone that has set this up for rental property managers and come with some level of appropriate accounting qualifications....Thanks
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5 February 2016 | 20 replies
If you will be in a perpetual negative income situation, then you likely have issues beyond just qualification for the Solo 401k when it comes to tax filings for the "business".
6 August 2016 | 8 replies
Get a pre-qualification letter for a regular bank loan and for a hard money loan.
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9 February 2016 | 8 replies
I unfortunately cannot use my rental income towards my qualification because it hasn't been two years.
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17 February 2016 | 14 replies
You should definitely talk to your lender first and get a "pre-approval or a pre-qualification".