Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
Results (10,000+)
Nathan Yee FHA 203K or Fannie Mae Homestyle Renovation Loan - Los Angeles
5 September 2020 | 7 replies
Fannie Mae Homestyle Renovation)FHA 203K (Pros)-Must be owner occupied -Lower Credit Score requirements (as low as 580) -Lower down payment requirements (as low as 3.5%) -Low interest rates -Down payment and closing costs can be given as a gift-Streamline refinancing (no home reappraisal, credit check, or income verification)FHA 203K (Cons)-Upfront Mortgage Insurance payment (~1.75%) and monthly for life of the loan-Need to secure reputable contractors, and need to be very diligent with paperwork-Lengthy Loan process (~45-60 days based on my research) -Rehab Limitations under Streamline FHA 203K ($35,000 max rehab budget + requires 15% contingency in case of cost overruns)Most non-structural, non-luxury items are acceptable:-Kitchen and bathroom remodels-Appliance replacement-Carpet and flooring-Roof replacement-Painting-Repairing safety and health issues-Energy-efficient improvementsFannie Mae Homestyle (Pros)-Doesn’t have to be owner occupied -Any type of renovation or repair is eligible (as long as it’s permanently affixed to the home and adds value)-Loan-to-Value is based on your home’s expected future value and not its value today-Renovations must be completed in 12 months and seller concessions are permitted (home sellers can pay closing costs if you add to your contract)-No upfront Mortgage Insurance Premium-Potentially lower Mortgage Insurance costs (if you’re putting less than 20% down) based on down payment and credit scoreFannie Mae Homestyle (Cons)-Higher down payment requirements (as low as 5% for 1-unit, 15% for 2-unit, 25% for 3-4 unit)-Higher credit score requirement (as low as 620 for primary residences, as low as 700 for second home or investment propertyIf you were in my situation, what type of home renovation loan would you use?
Heather Schmidtknecht Ready to leave my W-2
16 March 2022 | 4 replies
How accessible is affordable but comprehensive health insurance for a family outside of the W-2 employer/employee setting??
Erika Geoffrey Would you purchase a deal in a small town?
28 February 2023 | 10 replies
Top jobs are Health care, casino, education, grocery, manufacturing.Would you purchase this deal?
Craig Brandt Direct Mail VS Cold Calling
10 January 2022 | 39 replies
Ultimately, I determine the health of a marketing campaign based on how many leads it's generating per day.
Jacob Trogan Exclusive Kansas City Mastermind - Is this allowed?
26 July 2022 | 0 replies
I want to connect with others based initially on the common interest of real estate but also expand into topics such as health, spirituality, relationships, and anything else that interests others in their personal development.
Mara Witt tenant says heat "not working right"
5 April 2017 | 37 replies
People respond to big fines, court summons, and police officers, everything else is just idle threats.
Benjamin Mueller Cosigner Rental Agreement
18 October 2015 | 8 replies
I'm with @Jd Martin- the possibility of a lien threat would get them to pay up, so you'd probably never have to carry out the threat
Rob K. Has a tenant or former tenant ever sued you?
7 December 2013 | 28 replies
Threats only.
Mike Hsiao Question about California Civil and San Diego Municipal Code violations
30 March 2023 | 5 replies
Long story short, it was a pretty much a drug house, all tenants got vacated,  the city came in and issued multiple health and safety violations along with citing multiple unpermitted items in the house that needed to be fixed. 
Jennifer Dargento Starting or Saving?
1 April 2023 | 11 replies
Consider factors such as your income, expenses, credit score, and overall financial health when deciding how much cash to invest upfront.In terms of the current market in 2023, it's important to keep an eye on interest rates, housing supply and demand, and overall economic trends that can impact real estate investing.