Jake Kinney
House Hacking in N. Side of Chicago. What are financing options?
2 February 2021 | 11 replies
The mortgage insurance is cheaper and rates will be better.If you go decide to go the 3.5% down route and go for FHA, there's an upfront Mortgage insurance premium of 1.75% (financed into your loan amount) of the loan amount and then an additional .85% that you'll pay each month for the life of the loan.
Julie Williams
Explain financing & liability in owner-occupied house hacks
2 February 2021 | 6 replies
Mine covers for up to $2,000,000 in liability and the premiums are very reasonable.
Lindsay Massengale
My name is Lindsay Massengale from Denver, CO and a newbie!!!
15 February 2021 | 25 replies
For the greatest appreciation, you will pay a premium for areas such as Wash Park, Highlands, Sloan's Lake, Cherry Creek, etc.
Grant Griffiths
Rentals for lower credit scores
8 February 2021 | 9 replies
Private landlords seem to be more flexible than the larger property management companies and we know we need to offer a higher security deposit/rent premium.
Weng L.
Is Minimum Down Payment Changed on Investment Property?
30 January 2021 | 2 replies
*edit: %s were 5.625 vs 5.5 vs 5.125 in one scenario we had
Fahadbin Alam
How do I pay the bills,taxes, and insurance of a property?
1 February 2021 | 11 replies
Call an insurer - you can either pay the premium annually or monthly.
Sean Canada
Short term and vacation rentals
13 June 2022 | 6 replies
I just started reading “Every Airbnb Host’s Tax Guide by Nolo. 4th edition.
Grace Esteban
Do I need California Earthquake Insurance for your condo rental?
31 January 2021 | 5 replies
The premium and deductible are so high it doesn't make sense.
Turner McHolan
WHAT are the PROS & CONS of getting a FHA loan ?
31 January 2021 | 1 reply
Typically just refinance into Conventional after that time frame...Pro's: Lower credit scores welcome down to 620 (some lenders go lower but rate will be high);More wiggle room with DTI back ends over 50% DU Approved (Conventional tough over 48%)Less money down 3.5% versus 5% conventional - most 3% Fannie/Freddie loans on hold due to COVIDFHA Guide lines are more relaxed as far as reserve requirements and Employment seasoningCons: FHA has UFMIP - Up Front Mortgage Insurance Premium financed into the loan 1.75% of loan amountFHA has MIP-Mortgage insurance Premium (Monthly) (.85% x loan amount Div/by 12 months) where conventional with higher FICO's have around .25-35% x loan amount Div/12 months for monthly mortgage insurance PMI.In most cases even though FHA has lower rates the UFMIP & MIP cancel out that differenceFHA MIP is for the life of the loan where conventional PMI cancels at 78%.FHA less money down on a MF conventional more money down. depending on property type and number of units.These are just a few Pro's & Cons.
Katherine Carpio
Neighborhoods in Philadelphia where property values will increase
1 February 2021 | 2 replies
You will pay a very high premium even for a small rental grade property.