Points and loan details are TBD still as we're just getting the tentative process down on paper as we wade into the details. 

I have built up enough savings to purchase a multifamily property with an FHA (3.5% down) loan or Fannie mac (5% down) loan.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

If you’re not paying cash for properties, get pre-approved for an investor loan to understand your available credit.Time FrameThe shorter your timeline to achieve your goal, the more upfront capital and credit you’ll need.End GoalMost investing goals focus on replacing their current income, like $5,000/Mo.

I had a “lender” tell me he’d give me a personal loan with a fixed 4% rate on a 30 year term at whatever amount I wanted because he would like to “build a relationship” with me. 

Investment Info:Single-family residence hard money loan investment.

Investment Info:Single-family residence hard money loan investment.

To summerize, a DSCR loan, aka lite doc or business purpose loan, uses the rents you receive on the property and divided by the new loan PITI to receive a ratio.

The advice I have received is that HELOC’s should be used for short term loans only with a definite plan to pay it off. 

My Question is if i have a private investor loan me $70K for 5-7 years (his terms) at 12-15% (not compounded).