David McIntyre
lien or refi options pls?
5 December 2024 | 8 replies
You could possibly explore a bridge loan up to 75% LTV if your credit doesn't qualify for 75% 30 year loans.
Kevin Prasad
Seller Financing: need advice on how to pitch
9 December 2024 | 5 replies
As a seller I would ask why would I sell to someone who doesn’t qualify for a FHA 203k loan.
Nate Jenks
Fixed vs "first responder" Adjustable rate mortgage.
11 December 2024 | 10 replies
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
Michael Nguyen
DSCR loan for an LLC multiple members. Does the lender look at all credit scores?
10 December 2024 | 11 replies
If it is a 4 person LLC that the member with over 21% ownership may qualify to be the only PG.
Julio Gonzalez
Opportunity Zone FAQs
2 December 2024 | 11 replies
They have become even more popular recently so here are some of the most common questions that I get asked regarding opportunity zones.What is a Qualified Opportunity Zone (QOZ)?
Saika Maeda
ADU permit or not; financial implications
20 December 2024 | 27 replies
Rental income would be reported on Schedule E, and these write-offs could offset other income if you qualify as a real estate professional.
Dahrian Barrett
Best Banks for Cashout Refinance
5 December 2024 | 5 replies
There are a ton of qualified broker and lenders out there that can offer this product but be sure to receive the proper education when iyb comes to structuring the deal correctly.
Cole Harris
Considering Selling 2 Bedroom Cabin Gatlinburg
9 December 2024 | 8 replies
Of course I would recommend talking to a qualified realtor but I'm married to the biggest realtor the smokies have ever seen so I'm biased.
Bryan Cavellier
Is it possible to 1031 Exchange in Different States?
5 December 2024 | 10 replies
@Diane Perry is right, it's a cumbersome statute but the first thing you must do is have a qualified intermediary in place before your sale.
Kyle Luman
Cash flow vs equity discussion in recent Podcast
13 December 2024 | 13 replies
That's missing the forest for the trees, but you do need to manage cash flow because if you're buying conventional you'll come across DTI issues soon and if you're buying nonQM it needs to be 1:1 ratio at minimum to be qualified without unfavorable terms.