Hello, my name is Julian. I am a licensed realtor based in Atlanta, Georgia, and I am currently working on obtaining my mortgage origination license. I am 14 hours into the 20-hour online course offered by "RealEstate...

I will be furnishing one side for now and leasing to a mid term rental until i get a property management company that will work the property or get it leased out to students What was the outcome?

New loan is a 10/30.

Don’t overlook the 10% down second home occupancy loan for financing a property like this.  

Possibly break loan covenants and can't cure default, lender takes back property.  

But bottom line every place is different and there is no one size fits all for the development game.In Oregon and WA many banks will go 50% loan to cost not to exceed 50 or 60% LTV on dirt.. but for me I always pay cash for the dirt.

Do you use traditional financing or do you us DSCR loans?

We generally advise our clients to go ahead and pay the recapture rates if death is the alternative.The good news about recapture - the deductions are a deferred tax liability to you, and an interest free loan from the government.

There was also a loan grant available from the state of NH for first time home buyers for 3% down payment assistance.

Consider a 15 year loan.