Also, shouldn't the lender approve the builder as well, prior to appove the loan to a borrower?

I didn't know I needed to move to Ohio to borrow money there!

@Kevin O'Bryan  When starting out I a;lways say borrow as much as you can for as long as you can at fixed interest rates. 

The job is really to problem solve your borrowers' deals all the way from appraisal to UW and closing.

In the 10+ years we've been house hacking, we've seen people hack a 200k condo to a 2mil dollar multifamily around Boston.Since the 08 recession, underwriting requirements have really tightened up so if you're looking for a "hard" ceiling for how much you could afford to borrow/purchase, a good lender will have an arsenal of metrics to make sure you qualify (ex.

Or you do a cash out refinance to purchase another property which will grow your portfolio but is going to decrease your cash flow as more leverage (borrowed money) means a highly debt servicing cost.

Just make sure to take into account all the refi costs, including title, lender fees, appraisal, points on the new loan and so on (in my case the all in refi cost came in at almost 8% of the total amount borrowed)3. can you cash out any money by moving to 30Y ? 

There is a lot I can write about on break evens, returns, investor spread, securitization, etc but that’s not very relevant or interesting to borrowers and rightfully so as the only thing that matters at the end of the day is the interest rate spread to borrowers.

You can include it in your borrowers contract

A Condo Warranty is the approval of the Condo HOA, which is completely separate from the approval of the unit or the borrower.