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4 August 2020 | 1 reply
Otherwise, standard conforming loans seem to be the domain of the mortgage lenders, unless you are an "easy" customer, e.g. 800+ credit score and W2 income...Good luck.
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27 August 2020 | 84 replies
One last advantage that I love, when I buy a new property Which is often, I send an email to my agent and shoots back a conformation within a few hours that he bound coverage on my new property with my commercial policy!
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5 August 2020 | 2 replies
If you are doing it to get the cheaper residential conforming financing, then you shouldn’t have a LLC.
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10 August 2020 | 5 replies
The pricing gap you will find on FHA and VA loans is the largest, conventional conforming 20% down 740+ FICO, etc, will be the smallest gap.
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25 September 2020 | 9 replies
You probably got what is called a "conforming loan" therefore the loan will be sold into the secondary market and will be subject to random audits, so there is some risk in doing this, but from my experience as a Bank Regulator, I have never seen or heard of a loan being called due to this.
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7 April 2022 | 8 replies
If your property does not comply, then it has a last chance to be what is called "legal non-conforming," but that essentially requires that the property is non-conforming to zoning laws because it was built before the zoning laws took effect.
13 August 2020 | 9 replies
People transfer Title out to themselves to get a conforming residential loan and transfer it back (not that i agree with this approach as I think it pierces your corporate veil in my layman's opinion).
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15 August 2020 | 10 replies
Your back end DTI would still be a factor but if its under 50% it's till possible to get a conforming loan.
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21 August 2020 | 5 replies
If you can get a conforming loan in the 2% range for owner occupied or an investor rate in the 3% range the numbers will work on the right house.
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24 January 2022 | 18 replies
Does it conform with zoning?