@Terrence EvansIf it’s performing for more than 12 months you do not need a RMLO as borrower qualifies for ability to repay as all you are doing is replacing the security instrument (assuming you are not changing any loan terms or amounts).

If you're even asking that question, stocks or real estate, you're unsuited for this.

Usually, contracts are not instruments that are recorded at the courthouse.

@Zaivy MattaFrom hud.gov4155.1 4.B.2.aDefinition:PrincipalResidenceA principal residence is a property that will be occupied by the borrower forthe majority of the calendar year.4155.1 4.B.2.bFHARequirementfor EstablishingOwnerOccupancyAt least one borrower must occupy the property and sign the securityinstrument and the mortgage note in order for the property to be consideredowner-occupied.FHA security instruments require a borrower to establish bona fide occupancyin a home as the borrower’s principal residence within 60 days of signing thesecurity instrument, with continued occupancy for at least one year.

Began syndicating mortgage notes in late 2000 and thus created a full time syndication business.Early in my career I attended a Jim Napier seminar, read and reread his book “invest in Debt” and that launched my interest in real estate debt instruments.

Books and podcast were instrumental in helping me gain a strong foundation.

This will show you what their lien instrument encompasses and under what terms.

In such environments, landlords raise rents, which generates higher revenues (and increases property value) — as demonstrated by CoreLogic data, nationwide rents increased 10.2% year over year in September 2021.Finally, mortgage payments on fixed-rate instruments do not change over time, i.e., the payments remain constant while equity growth accelerates.

In this case, the higher the default risk on the instrument or loan (from lender's perspective), you should expect a higher than normal or conventional rate.

It sounds like you are planning on holding these for a while, so if the question is regarding maximizing the capital you can pull from the portfolio with a cash out refi, I think you have to look at the financial instrument you will be using to do the refinance.