Darren Landerway
VA rehab loan - any information needed!
18 December 2019 | 6 replies
Here is some information I received from a lender in NJ let me know if anyone has any other information:VA Renovation Talking PointsPrimary Residence Only – Purchase & Cash-Out RefinanceProperty Type Loan Amount Min Credit Score1 Max LTV/CLTVStandard1‐4 Units ≤ $453,100 Minimum credit score 600 Max LTV/CLTV 100%High Balance1 Unit $453,101 ‐ $1,000,000 Min credit score 620 Max LTV/CLTV 100%Super Max1 Unit $1,000,001 – 1,500,000 Min credit score 660 Max LTV/CLTV 100%Eligible Property Types 1‐unit attached and detached SFR, PUD 1‐unit VA‐approved condominiums¹ 2‐4 units 1‐unit (double‐wide) manufactured home –eligible forlimited renovation product only Modular homes¹ Site condominiums in MI are treated as SFR.VA Limited RenovationNo minimum repair amount and maximum repair amount $35,000.00 including all costs Repairs must start within 30 days and be completed within six (6) months Maximum of 2 draws (Initial and Final) with written approval from the borrower at each disbursement Initial disbursement to cover the lesser of material cost or 50% of bid Final inspection and title search required for final disbursement 10‐15% contingency required (15% required when any utility is non‐functioning) Properties that require the following work items are not eligible for financing under the Limited VA Renovation Program:o Major rehabilitation/remodeling, such as the relocation of a load‐bearing wall; o New construction (including room additions); o Repair of structural damage; o Repairs requiring detailed drawings or architectural exhibits; o Landscaping or similar site amenity improvements; o House is uninhabitable at close of escrow o Any repair or improvement requiring a work schedule longer than six (6) months CONTRACTORS MUST HAVE A VALID VA BUILDER ID VA Standard Renovation Minimum repair amount is $5,000; no maximum.
Stephen Morgan
Real Estate investing with new 2020 VA Mortgage guidance
13 December 2019 | 2 replies
Links below are the circular, exhibit A, and exhibit B.
Chinmay J.
A year in review -2017.. Where do you go from here?
20 February 2018 | 11 replies
The seller exhibited..
Hilly Fricks
Contractor HAS my money...but no work...
14 February 2018 | 54 replies
You will need exhibits when you sue this contractor.
Ellie Perlman
Members voting rights in a syndication
27 January 2018 | 7 replies
We put out a slide deck where we show all of the details, with performance forecasts for a 3 year, 5 year, and 10 year hold, a separate exhibit that explains the financial forecasts (for those folks who aren't intimately involved in day to day multifamily financial forecasting it helps to break it down to a connect-the-dots format) and an FAQ that answers those questions that we've heard a lot over the years.
Daniel Perez
Determining the RIGHT market
3 November 2019 | 25 replies
Initially, I would focus on either your local area (within 3-5 hour driving) or markets that are exhibiting job and population growth.
Jairus King
Tenant doesn't want interior pictures taken
25 January 2018 | 6 replies
Then again looking at the agreement "which I inherited" It does appear that there is a statement that goes as follows:(Should the Lessor or Lessee, at any time during the term of this lease, give notice in writing to the other of intention to terminate, immediately upon such notice the said lessor shall have right to enter the premise, whether or not the Lessee, or any of the household be present, without liability of any prosecution, claim or cause of action for damages, for the purpose of exhibiting the premise to prospective Lessees and in order to put up a "for rent" or "for sale" notice. ) Now this doesn't say anything about pictures.
Kim Horn
What can I do as an investor...
25 October 2017 | 4 replies
I've even made these email conversations an exhibit to the contract.Provide as many product specifications as possible to set expectations for what is being installed.
Account Closed
Texas agents I need some input
29 October 2017 | 12 replies
Account ClosedAssuming you're using the TREC residential contract form, I would have added an Exhibit "A" detailing the items (and referencing para. 7(D)(2)) and incorporate the Exhibit into the contract in para. 22 under "Other".