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5 September 2024 | 4 replies
There are some additional things that could help determine which loan product is best for your situation.203k Best When:- Credit scores 680-720 or less- Renovation will improve the value of the home more than 75%- Renovations will be on or in the home - no new yard projects, only fixing existing- Higher Debt To Income (can get approval with up to 56.9% dti)HomeStyle Best When:- Purchase + Renovation costs will come in higher than FHA Limits- Home improvements will only improve vale 75% or less - 720+ credit or 20% down (of purchase price + reno cost) to avoid PMI- Exterior Projects (fence, hardscaping, pool, outdoor kitchen)- Lower Debt To Income (sometimes as high as 50%, many times between 45-50%)- Renovations that are greater than $35,000 (soon this will move up to $75,000)Happy to answer any other questions that you may have!
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9 September 2024 | 19 replies
Hi Jane,When you replace a roof, it typically counts as a capital expenditure (CapEx), which means it must be depreciated over time rather than deducted in full in the year you incur the expense.
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4 September 2024 | 5 replies
I’m looking to buy my first duplex.
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3 September 2024 | 4 replies
There is a full time caretaker hired for 35K a year.
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1 September 2024 | 4 replies
I have no properties so I would qualify as first time home buyer.
7 September 2024 | 5 replies
Even if you didn't have anything about guests, she's not following the lease with regards to noise (and it wasn't a one time thing).
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31 August 2024 | 5 replies
This project, known as the Megafab factory, is expected to create over 50,000 job opportunities and contribute nearly $10 billion to New York’s real GDP over its first 31 years.
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4 September 2024 | 7 replies
This is a dumbed down math, but if you PITI is $126 higher but you're getting $16,626 more, it would take a long time until you break even and you'd probably be refinanced by then.
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4 September 2024 | 4 replies
I think there may be some condo rules/by-laws that prohibit this (that when a unit is purchased it needs to be owner occupied first and a for a certain amount of time before renting).
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1 September 2024 | 3 replies
I am a Real Property Appraiser 2 at my county tax office I am a long time listener of the podcast.