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7 December 2013 | 9 replies
The term "conventional" refers to traditional loans that conform to certain guidelines that Fannie/Freddie have put in place.
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30 March 2015 | 23 replies
Debt to Income - DTI - is only use on FHA, conventional, Va and other typical residential transactions (consumer front).If you're going to a portfolio lender they look at lending from a 1.25x DSCR point of view (industry standard) which in essence is a 80% Debt to Income if you think about it.1 dollar of debt / 1.25 dollars of net operating income (NOI) = 1.25 X DSCR = 80% DTI Never the less us bankers joke about it all the time because it might be crazy from a residential loan officers point of view but in the banks eyes its not from a commercial point of view.The commercial bank views income property as a consistent sustainable source of reocurring income especially in stronger rental markets so having 1.25 dollars of net income coming in for every dollar of out going debt service payment is acceptable.The mess with this 1.25x they will sometimes make you conform even while subjecting you to underwriting at higher rates, shorter amortization periods, and other income adjustments that make it harder to obtain 1.25x.
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4 February 2014 | 8 replies
I've been told, when we redo the drive, I have to make it conform.
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4 December 2013 | 10 replies
you can't get a traditional mortgage (30 year low interest, etc) in a LLC,,,only individuals qualify for conforming mortgages,,,you can have up to 10 mortgages including your own home,,so slowly add a house here and there until you get to the 10 limit,,if done properly you can build cash flow up that will be flowing in and increasing with time and more properties.After you hit the 10 limit you will need commercial financing,,thats when the LLC will be needed,,,others will say form an LLC and put your rentals in them now,,but by doing so you are losing out on locking in the low rates we have now
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10 December 2013 | 9 replies
- the property conforms to zoning ordinances.
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18 December 2013 | 73 replies
A greater sea of peer review tends to bring a high chance adherence and conformity to the ideas that are required to access value.
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18 December 2013 | 20 replies
The issue I see with doing the cash out, is if you have more than 4 mortgages, you can't do a cash out refi (with conforming mortgages),,,I really hate to give up a mortgage with 4% locked in for 2x more years and go with a 6% locked in for 3-5 years,,,with interest rates having to increase over the next few years those low intererst 30 year mortgages are worth something
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18 November 2013 | 9 replies
An agreement which conforms with the definition as set forth in § 4-92-102(7) shall be a true lease and shall not constitute a credit sale, retail installment contract, agreement, obligation, or any other type of credit sale financing device, nor shall it create a security interest as that term is defined in § 4-1-201(37).
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29 November 2013 | 9 replies
Can you conform with zoning?
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3 January 2014 | 64 replies
An attitude like that does tend to limit ones income generation ability because like it or not, employers are looking for conformity when hiring someone to represent their company.