The loan is issued to an individual or a disregarded single-member LLC, as opposed to loans issued to partnerships or corporations. 3.

We were going to use a VA loan to purchase the property.

Asking is $200K, my relative (buyer) looking to put 20% down.He is pre-approved for the amount, lender has prepared both a conventional loan and a mass housing loan option for first time buyers.Would be purchasing as an owner occupied "primary residence", rates are decent under both options.Condo is currently rented, tenant lease expires the end of August - roughly 4 months.Lender says both loan programs require buyer to occupy the unit within 60 days, to qualify for first time buyer deals.Is there a way to get them to extend this to 120 days (4 months) until the tenant lease is up?

My loan was processed smoothly and quickly.  

They aren’t calling any loans yet.2.

(this was after we had closed on the property) This was a bank commercial loan. 

******************************Current Loan Bal - $315kMortgage Pmt - $1344/mthProp Taxes - $840/mthInsurance estimate - $300/mthTotal estimated PITI = $2,483/mthHOA - $124/mthTotal Monthly Expense (not incl, Vac & Coll, Mgt, or Capex) - $2,607************Estimated Monthly Rental Income = $4,000 to $4,300Estimated Net Income - $1,393 to $1,693  ($4,000 - $2,607, etc)Annualized Net Income = $16,711 to $20,311***********Estimated Current Sales Price = $830,000Est sales cost of 6.5% (5% commissions + 1-1.5% other costs) = $53,950Est Sale Net Proceeds - $776,050Est Net Cash (after loan payoff) = $461,050 ($776k - $315k)******************************Est % ReturnsAs a Rentalbetween 3.62% to 4.41% ($16,711 net inc/$461k net cash from sale, etc)Again, this does NOT include vacancy, collections, management, or capex, etc.

Soon closing on a property property cost $458k and the closing cost is really high we are doing FHA mortgage they are charging 2% of the loan plus application fee and mortgage insurance on closing for the amount of $7k and plus monthly mortgage insurance... in 2020 there was not just a thing 2% of the loan on mortgage origination loan fee! 

Loan Buy Down: Some calculate this as part of their "cash flow."

Once the loan is due, lenders can really charge whatever they want for an extension.