20 to 25 year amortization is pretty standard for commercial loans, in my area at least.

Purchase price: $219,000 Cash invested: $63,275 Buy and hold single family residence using a 203K loan What made you interested in investing in this type of deal?

Investors may like the income on the spreadsheet, but the appraiser for a traditional loan won't care.

These markets often have strong population and job growth and strong rental demand.But the reality is that even in more affordable markets like Columbus, you'll need about $50k-60k household income just to qualify for a conventional investment property loan (this assumes good credit and reasonable debt).

That could trigger your due on sale clause and force you to get a new loan.

and maybe even some encouragement.The Beginning: A Flooded Start and Big AdjustmentsI started the year by purchasing the property with 5% down, thanks to new Fannie Mae guidance on conventional loans around December 2023.

If you're a single mom with student loans, a car payment, and living paycheck-to-paycheck, then $20,000 would be devastating and a reserve is critical.

Owner occupied loans have allowed us to purchase properties in markets with heavy appreciation, and potential for huge rent increases.

Here's how it works:If their deposit is $1,500, they can either choose to pay the SD in full or elect to take out what is essentially a loan with Rhino Insurance and only pay $25 per month ($20 goes to Rhino and the remaining $5 goes to the PM company) toward their $1,500 SD.

A couple of thoughts that might help.I recast a loan at a point where I had paid enough extra to allow recast (I think it was $5k over).