Johnny McKeon
Quoted over 8% interest rate for owner-occupied fannie mae 5% down 4plex
Hey BiggerPockets family,I was just approved for an owner occupant, Fannie Mae, 5% down with a purchase price of $1.3 million for a 4plex in the Phoenix Metro of Arizona
My middle FICO credit score is 759
My cur...
Jason Wray
Mortgage Rates Take a Deep Dive!
This week the FED outshined expectations and instead of a .25 basis point reduction they cut it by .50% which is huge for home buyers! We are off to the races and it’s now or never to find a home and put in an offer....
Andrew S.
Request a lower interest rate on current mortgage before refi
Hey BP, With the recent lower interest rates dropping, I'm considering doing a refi on my house hack duplex. I currently have a 30 yr @ 4.75% and am considering going to a 15 yr 3.25% with my local bank. I'm conside...
Mateo Way
Tax debt pay off prior to closing
Hea BP Forums!I have found myself in a bit of a pickle.My wife and I have a property under contract for 345k with 20k in seller credits at closing, funded with a FHA loan. We passed inspection with only some minor pai...
JDee Moore
Name on Deed
My wife and I recently got married but have been living together for the last 8 years. She purchased a house (FHA Loan) that we are currently paying a mortgage on. Her name is the only name on the Deed. We are tryin...
Shaun Reilly
Closing cost credit on an REO
Anyone that knows the actual REO department side of things with a bank might be able to answer this question for me.
I was bidding on an REO and had a small (less than 3%) closing cost credit in my offer. Af...
Adam Bradley
BRRRR - How long until I can ReFi?
I am looking to purchase a house for $50k that is worth $70k for cash. I understand that banks like a property to "season" for a year before they will refinance.What I do not understand is if this applies to:1. If you...
Nicholas Meyer
Benefits of cash offers
Hi everyone, I am curious as to the benefit of making a cash offer on a property, most likely a multi-family. As someone who is new to REI, should I make cash offers if I can? I have successfully squirreled away a d...
Derek T.
Concessions with offers
Just wondering if anyone asks for concessions on their offers. I came across one investor who said she always asks for closing help on her offers to decrease the initial out of pockets expenses. She also said she do...
Peyton LaBarbera
How can the location of a property affect cap rate?
I was hoping someone could help me understand first... What types of locations are lower cap rate properties generally found and why?And... What vice versa for higher cap rate properties?Thank you,Peyton LaBarbera