Adam Steinbach
FHA loan not approved due to Appraisal rents not covering
I was under contract to purchase a 4 plex through an FHA loan with 3.5% down. My underwriting was complete and I was fully qualified, but the FHA loan was not approved because the rents listed in the appraisal didn't...
Jason Gass
Financing Personal + Rental Properties with Large Down Payments
I am moving my family across the country to the Portland, ME area. After the sale of a business and our current house in WA state, we will have about $200k to put down on a personal residence in Maine. Once back in Ma...
Heather Burnell
I won't qualify without a primary mortgage or paying rent?
I am new to investing and have a question regarding qualifying for loans. I bought two single-family houses last year and have another house as my primary residence which I bought 4 years ago. All are being financed. ...
Yoshi Uem
Net worth as accredited investor whose primary residence is MFH
Hello!I am trying to calculate my net worth to see if I am qualified as accredited investor.Question is,I own a duplex and live in one side and rent the other side. When calculating net worth for accredited investor s...
Simon Martinez
Primary residence tax /rental question. Florida and Texas.
I purchased my first primary residence in Florida in November of 2015 for $79,000. I then had to move due to military restationed me to Texas on May 2017. I have had my house for sale for almost 6months, got under con...
Account Closed
Are they a First Time Home Buyer if they we're givin property through Probate?
This will be probably an easy question for mortgage professionals.
Here's my clients question We don't know if we are first time home buyers! Actually, my girlfriend took over her dads property when he passed in 2004...
David Malott
Loan qualification
I have recently been pre-qualified for a loan of $125,000 to buy investment property. I'm planning on selling my principle residence, move and buy a new principle residence in my new location. If I buy an investment p...
Dan V.
Tax Implication and Other Things to Consider
Me and my wife are planning to purchase her mom's house. She used to live in the house and now lives with us for about 2 years now so the property still qualifies as primary residence. She is open to seller financing ...
Daniel D.
Owner Occupied Rental - 1031 exchange?
Hello,I currently own one house in Arizona which is my primary residence but also an owner-occupied rental (I rent out 2 rooms).I began construction on my second house in AZ which will be my primary residence. My orig...
Dimitri Carso
Primary residence - to rental -than back to primary residence
I have a rental property that was originally purchased as my primary residence. I rented it for several years and now want to occupy it again as my primary. If I occupy for two years can I then sell and be exempt fr...