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22 February 2025 | 48 replies
You need to avoid certain high risk features, which include balloon payments within 5 years, excessive fees, validate that the borrower has the ability to repay the loan, make sure they are likely to repay the loan based on their credit history, excessive late fees, long loan terms, etc, etc.
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29 January 2025 | 24 replies
They could include things like waivers for documents and appraisals, relaxation of underwriting standards and money to fund repairs.However, there are benefits for people who just live in the areas, but aren't directly impacted.
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23 January 2025 | 56 replies
I read on Lee Arnold system . com that joining the inner circle gives access to up to 100% financing on residential loans including Property Purchase Price + Closing Costs + Rehab Costs if that amount is 65% of the after repair value (ARV) as determined by a third party appraiser.
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20 January 2025 | 7 replies
It will just invite the idea of allowing her to include even more pets.
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16 January 2025 | 3 replies
Just make sure you have all the required permits, including alcohol.
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13 January 2025 | 19 replies
I will give you my numbers since we are 3 years into Velocity Banking.Home was purchased at $410k.Interest rate: 3.125%30 year termMortgage payment is around $1950 (includes insurance and property tax)HELOC: 8.25% Variable rate - current rateCredit Limit: $97kLet's say I made $10k a month and our expenses were $6k each month including the mortgage.
29 January 2025 | 20 replies
I also do not stop marketing unit including open houses until i have a holding deposit.
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14 January 2025 | 5 replies
These typically include services like renters insurance, HVAC filter delivery, pest control, and sometimes utility management.
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15 February 2025 | 77 replies
I've calculated the IRR that includes appreciation, pay down, net cash flow; a batch of my houses in a high appreciation area i earning 60% IRR (modifiec)/yr.