Conventional 30.

@Michael Ohara so do we get a HML for cost of property AND refinance or conventional for cost of home and HML for rehab??

I am very new to any form of USDA financing, but I am not sure how to make it work for me here.Using a more conventional commercial mortgage or construction loan may work, but the current owners live in the property and have only rented the place out while they were out of town, thus it has netted much less than it is is capable of and P&L is lite. 

Click submit to view the results.Deal Details- 5 bedrooms. 3.5 bathrooms- 3031 sqft- Purchase: $325,000- Interest rate: 3%- Down payment: 5%- Conventional loan + owner occupied- Monthly mortgage: $2098.31- Cash to close: $18,289.56What's next?

@Darlington Agu Generally speaking there are 2 main types of loans for investors: “Conventional” and “Portfolio”Conventional - I'll define these as loans that come from Fannie Mae and Freddie Mac (if you recognize those names).

My question is with all the different financing options such as conventional bank loans, private and hard money lenders..etc.

Contract for deed is often used to allow the buyer to move in while they are preparing to qualify for a conventional loan (to pay off the contract for deed terms); The seller is provided with immediate income; buyers, this can be a way to move into a property they intend to own while avoiding renting from the owner; owner can often command a higher monthly payment under these terms than they could in a rental arrangement; contract for deed may be seen as a last resort for a seller who really wants to cash out their equity quickly. may be local legal restrictions on these arrangements, including restrictions on "repossessing" the property; seller should definitely consult an attorney.

Turnkey might be harder if you're just looking for a straight conventional loan, and flips may be easier if you're willing to use HML. 

After doing the math and starting this year, my yearly cash flow will decrease from $5,940/year to $1,502/year for every year because that total difference goes to pay off new mortgage, assuming 100% vacancy & the same rent every year.Process of doing a cash refi: It is the same as getting a conventional mortgage.

Fha loans ask for 3.5% down while you can get conventional loans starting at 5% down as long as its your primary residence.