Financing provided through this program is only available for properties located in Michigan or Florida.Available Product Type: SOFR 7/6 ARM, SOFR 10/6 ARMLoan Amount: $766,550 MaximumLTV: Purchase and No Cash Out Refinance - Maximum 99%Prepayment Penalty: NoneLoan Assumption: NoneEligible Properties: 1-unit dwellings, attached and detached condominiums, PUDsEscrow: An escrow account must be established for property taxes, and flood insurance, if requiredUnderwritingNo Private Mortgage InsuranceOccupancy – Primary residencesMinimum Credit Score - 700DTI – Max 43% (UW/Mgmt exceptions up to 50% with minimum 3 documented compensating factors)Student Loans – If in deferment, no qualifying payment requiredDown payment of 1% must be borrower’s own funds, while closing costs and prepaids may be gift fundsAttached condominiums require a 10% down paymentEligible Borrowers – Protect and serve heroes are defined as employees of public or private education institutions, employees of medical and healthcare organizations, all first responders, and active or former military personnel.Servicing: Retained

The owner is a former mortgage underwriter and she is preparing documents herself and having her friend at a title company execute the sale.  

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

It works as documented.

they will lose a ton of interest on 5.5% loan if we refi with someone else, but it would likely be 7% so its a lose-lose, they will lose our business and it could be in their favor to just drop the abusive term, ridiculous that a conventional loan doesn't let you keep the place after moving out. never saw that coming and this type of "pulling a fast one" is exactly why the other buyer who couldn't be present on closing specified that the power of attorney for signing closing documents was limited to exclude anything unnecessary. 

@Javier MolinaA mortgage is public record so all of us can find and read your recorded documents.   

Others might be fine with taking risk, but least by doing this a person can get an idea of what might go wrong.e) Legal document analysis: it will usually take a few days to go through the legal document properly, as almost inevitably there are tons of gotchas that either have to be explained, or mitigated with a side letter.That is the very short summary of what I do.

Understand the basics of private lendingResearch real estate marketsDetermine your investment strategy and criteria for loans, including:- Amounts- Interest rates- Repayment termsCreate legal documents with a lawyerNetwork with real estate professionalsPerform due diligence on potential borrowers and their projectsBegin with smaller loans to gain experienceMonitor your investments closelyConsider joining a private lending group for additional resourcesStay informed about real estate trends, lending practices, and legal regulations

All of our services and charges are listed on a document on our website.

Filing Form 4868 for a tax extension will also extend your 1031 exchange deadlines accordingly.Ensure your Qualified Intermediary applies these extensions correctly, and document your eligibility as an affected taxpayer due to the federally declared disaster.