Most lenders won't require an application fee and should be able to clearly lay out their financing costs, cash to close, and projected profitability for you.I hope this helps.

Legitimate lenders may charge a small application fee (around $250) to verify you’re serious, but if someone’s asking for thousands with no real intention of closing, that’s a huge red flag.On a more positive note, there are creative financing approaches out there.

I like that it’s an all-in-one platform for tenant applications, rent collection, and maintenance requests, which helps keep everything organized.

In the program, it appears that you offer a Pre-Loan Application-- perhaps this is how the program is legal?

Before finalizing a decision to sell, I thought I’d get some thoughts from the BP forumThe only obvious factor I know to try to head off a problem is to carefully screen applicants.

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!!

Sometimes an $800k 4-unit could be a better return than a $300k 2-unit...or visa versa. 

That loan is being paid off by someone who checks the box on the conventional loan application that they will be occupying the property.

We add up the scores and get a total score that reflects the level of risk the applicant presents.

During the escrow/title process, you are finalizing loan documents, reviewing title documents (HOA disclosures if applicable, title reports, etc), obtaining homeowner's insurance, and preparing to wire your funds to title.