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22 February 2024 | 6 replies
Borrower currently goes with LENDER A, but LENDER A ends up with very high interest rate and fee.To do price match, I would like to ask whether I need to show LENDER A the lower rate & better fee from LENDER B's rate engine on their portal?
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23 February 2024 | 10 replies
So - my question - my current mortgage holder gave me two options to refi and remove my wife's name from the loan both keep the current 4.x% rate but one can be done within 45 days and the loan starts again at 30 years.The other option, an assumption process, takes 4-6 months, retains the 4.x% rate but keeps the life of the loan at the current 24 months.I'll be rolling a HELOC into the loan.My question is: the longer term of 30 years will lower the monthly outlay a little bit and speed the process of getting my wife's name off the loan.
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21 February 2024 | 0 replies
Especially for first time or entry level homebuyers...what is the point of 3% down if buyers will require another 2-3% out of pocket to cover their broker's fee?
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23 February 2024 | 27 replies
These LOCs will be unsecured and if it means anything, we have no business/investment history, as we're just starting; perhaps lower fee LOCs can be attained from a proven business with a history, or perhaps these fees are high independent of that?
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23 February 2024 | 387 replies
Should be lower (I used to think 10%) because homes freshly rehabbed.
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22 February 2024 | 13 replies
FHA MI is very high and almost always I can get the conv. payment to be only 75% or lower what an FHA payment would be.
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21 February 2024 | 5 replies
Inversely, does a high level of confidence mean that a property is a good rental property to buy?
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23 February 2024 | 25 replies
Others would likely argue legislation is the biggest long-term threat to a successful well-positioned/lower LTV portfolio, but personally I'm more focused on the impact of 3-D printing.
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22 February 2024 | 7 replies
Never send money in advance for their fee's NEVER. thats a huge red flag that they are just out for fees and are fake lenders.2. bad or not really good written english .. on the phone they sound like they are off shore ( which they are ).3. rates lower than market most of the fake lenders will advertise 5% rate that does not exist.4. insisting you pay for mortgage insurance there is NO mortgage insurance on PML HML loans does not exist.While NMLS registered and state licensed is a good way to vet a lender keep in mind only 12 states require it.
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22 February 2024 | 11 replies
Also, if you say no financial contingency, then what happens if after I get the property under contract and present it to my investors they start back-stepping,"In one breath you say you are fix and flipping but in another mention the phrase above which tells my you are a wholesaler of a contract and not a cash buyer.I don't know why people intermix the two.The difference matters to an asset manager.If you give them a quick close,no contingencies,cash in your bank account that you control valid within the last thirty generally you can get much lower offers accepted.Now it all depends on what type of property you are going after and they type of bank or government institution involved as to how much impact a certain strategy will have.