Hey everybody! I’m both super excited and second guessing an accepted offer I put on my very first property, a nice four family building with upside for increased rents and overall value. My contract didn’t include an...

Is it vacant or occupied....how easy to show?

You have to change for a job or downsize or you're going through a divorce and just need a smaller place; whatever, but the underwriter has to believe you're going to move into the property and not just use owner occupied financing for a rental property.Sometimes borrowers make it make sense and other times, underwriters just dig their heels in.Best of luckStephanie

The primary residence exemption would only apply to the unit you occupied.

Success margins are tight though, depending on your strategy.Long-term buy and hold folks should anticipate paying retail and bidding against owner-occupied buyers.

Just get rid of him and find a qualified renter to replace him.When more than one renter occupies, they are under "joint and several liability" which means each individual is 100% responsible for the terms of the lease.

Tiffany Mazzoccoli. 2021Regions- yes HELOC but no LOC SCCU Florida 70% LTV, 6.25% interest only, not LLC Signature Federal Credit Union 75% LTVSound CU "non-owner occupied HELOC, capped at $150K and interest rates are prime + 2%, 3% or 4%, based on credit, not to exceed 70% ltv.”S&T PennsylvaniaTCF BankTD Bank TIAA Direct was EverBank Trustco Union Bank, specializes in noo HELOC.

If a unit is vacant, I will only hold it for 14 days (depends on situation) and then expect them to pay rent and other expenses even if they won't be occupying for a while.

Will you occupy one unit, or rent out both units?

There are lower down conventional programs for owner-occupier.