Richard York
Where would you invest $12K?
26 July 2011 | 18 replies
., so right about at valuation for the neighborhood)- 5.5% fixed financing- 10% down ($7,500), no lender fees, but prepaid insurance, prorated taxes, closing attorney - 10 year amortizationIt's negative cash flow because the principal payments are $423/month and increase by $2/month.
Brian Gibbons
Dodd Frank News Oct 22, 2014 - CFPB Finalizes Qualified Mortgage Points & Fees Cure
4 November 2014 | 25 replies
Sounds like prescriptions for when 3% and 43% is exceeded mainly.Yes, agreed, however, need to clear something up, using "points" in discussions with seller financing is not appropriate, seller financing is funded by an amount of equity based on a sale price, it is not a cash advance or purchase money loan and points can not be charged on amounts of equity (points are prepaid interest) but can be on cash advances and, points are usually only allowed for institutional lenders, regulated brokers, banks, credit unions not individuals.
Terry Royce
Property Insurance
26 January 2009 | 14 replies
You'll get a refund for any builders risk coverage you may have prepaid for.
Joe Leonti
Closing costs and lender fees are killing my deals
5 March 2016 | 17 replies
I thing most flippers goal is at least 30%.My loans have origination fee's of 1%, with other closing costs (less prepaid's) being around 1.5%.
Devonte Blackmon
Refinancing FHA mortgage
23 February 2018 | 6 replies
That does not include the prepaids you need for tax escrows.
Tony Crabtree
Pensacola comps and good buy and hold areas
4 February 2019 | 11 replies
Dont forget financing costs, closing costs, prepaids, etc etcRoofing costs are VERY high right now.
Levi T.
Can we 1031 into property, and also get a loan at closing?
20 August 2018 | 2 replies
Even deposits and prepaid rent puts you at risk if it's on the settlement statement.The answer is to finish the 1031 with the purchase using all of your 1031 proceeds.
TJ Reiley
A good starting point.
8 January 2018 | 5 replies
Other closing costs such as loan origination, title fees, prepaid escrows etc also will be involved.A good strategy I like to use with buyers is to get as much seller assist as possible.
Kareem Aaron
Is it okay to ask for 2x deposit + 2x rent (first and last month)
11 January 2018 | 7 replies
@Kareem Aaron not from your area, but all of the research that I completed reveals there is no statute on prepaid rent.
Urvashi Vasishtha
Is Temporary Buydown the hottest purchase option right now?
25 November 2022 | 4 replies
If they offer a temporary buydown then the buyer can take advantage of the former while still participating in a nice rate.However, contrary to pre-paid interest or straight buy-downs, the temporary buy-down can be credited towards a refinance in the event that the rates plunge sometime in the first year or so.This is in essence like a crampon for an ice climber - it allows the person to take advantage of the scenario at hand to effective achieve a result.