I had to negotiate with my existing construction lender to get then to allow me to use the in place construction funding to get the property to cash flow so I could meet my obligations.

I recently purchased/ mortgage my first residential home in December 2023Now I'm trying to purchase my 1st investment home in Detroit Mi.

I'll go out on a limb to guess that it doesn't exist. 

This is my wife's first job, so she won't get much of $$ on her mortgage alone, but I want her to eventually get a mortgage under her name once she establishes her income in the next couple of years.

FYI - Its going to be an ADU from the ground-up since the existing garage foundation may not work for the ADU.  

I'm a teacher, and she works for a mortgage company.

I'm looking for guidance on how the commercial lending process works in comparison retail mortgages. 

There is no mortgage on it.

Read this detailed blog post.https://medium.com/p/ef0480228574Real Estate News in BriefWhile it’s disappointing to see average mortgage rates back near 7%, the rate cuts will come eventually, and the increase in the national inventory of homes available for sale is encouraging.

First, I am close to the biggest subto investor buyers in the nation and out of 100's of mortgages, there are only a handful of mortgages that have gotten called due - mostly due to being super small local banks, so I try to avoid those.