@Micah Johnson it’s a pleasure to meet you do you plan on turning your current home into a rental property or simply picking up a new one?

Your clientele simply don't manage their finances well enough to come up with that amount.   

They simply paid some anonymous scammer an up-front fee.OR, I’m totally wrong (which usually goes without saying), and a few things should be clarified.According to the dates you provided, your purchase money loan is just a few weeks old.

Our desired profitability is significantly lower than other developers simply because we want to make this site work at this point, but only if we can find the right partner to commit to buying on the backside. 

That gives me the total interest due until the present day.You simply add up all of the principal amounts and all of the interest.

I hope you are not investing simply on the 1% rule alone.  

Being on Bigger Pockets is simply content marketing and lead cultivation for those selling services in the real estate industry.

The pre-approval is simply a letter that states that you are pre-qualified to purchase a SF or MF home up to a certain price - essentially this is your ticket to get to view properties for sale.

VA loans are a tiny market share, simply not going to mention them here.Fannie Mae / Freddie Mac - Due to "QM Patch," can go up to 47%, sometimes 49.99%.

I am simply here to present factual information to those who don't know the rules and regulations of the real estate industry.