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21 August 2024 | 5 replies
I will getting loan on my LLC(it is my second property in the area) and I have a credit score of 800+.
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20 August 2024 | 12 replies
If pre-payment penalties are a concern federal credit unions are not allowed to charge pre-payment penalties.
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20 August 2024 | 3 replies
Yes sir we just 100% refinanced...Used the same credit union who had the original debt.
20 August 2024 | 5 replies
I have done a lot of googling and called a couple of local credit unions and have been hitting a snag when I inform them the property is owned by my LLC (both HELOC and Refi).Am I really down to hard money loans or business loans from the LLC itself?
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20 August 2024 | 11 replies
:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.
20 August 2024 | 7 replies
When the market was a little hotter in the recent past, a lot of listing agents in my area would shun or downplay offers that came with financing from credit unions or "too big to fail" banks.
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17 August 2024 | 30 replies
Trustco Union Bank, specializes in noo HELOC.
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20 August 2024 | 9 replies
Lots of variables to take into account here:- credit, ltv, DSCR score (based of rent / anticipated PTIT(A), experienceAre you looking for a purchase or refi transaction?
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21 August 2024 | 5 replies
What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?
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20 August 2024 | 3 replies
On the 19th now the credit bureaus didn't all show up and we were forced to push it back another day because the scores didn't show until after my original closing time.