@Johnny Wolff Would say it depends on the city.We used to manage a property in Royal Oak, Michigan under the same "roommate" concept as you.

If you do otherwise, you are lying to a financial institution, a serious federal offense.If the loan is not backed by the fed, you can do whatever you and the bank agree to. 

Hello Everyone,I purchased my NACA home more than 5 years ago, and I obtained a HELOC on my home last year.The financial institution that approved and funded my HELOC was fully aware of the NACA Lien on my home and continued with the process either way.Also, I am not in violation of the occupancy requirements.What would NACA's actions be?

The price increases that came to a head during the pandemic are a result of two major factors: A shrinking workforce, and a need for large financial institutions to seek returns.

Yes, you have to hang your license with an institution because it pragmatically isn't economical to run your own independent shop these days.You're still often brokering or correspondent lending, though, if you work for a mortgage bank or mortgage company (eg, not a "bank" bank, where you can have a checking account).

All of these things on an institutional level are much more trackable and transparent.However, in the small stuff - who the hell knows.

Big enough to be worth the squeeze, but smaller than most institutional + no anchor.I am a CRE lawyer for those types of deals, we help with PSA, NNN leasing, etc.

It’s good to get involved with the neighbors and neighboring institutions as well.  

Hello AllAnyone know of a bank, credit union and or lending institution that will provide a HELOC on an investment property in VA? 

Your friends might not want or need this, but if you go to an institutional lender, this is what they'll ask for...GUARANTOR APPLICATION: Each owner of the Borrowing Entity will need to complete some sort of application on themselves personally.