Wendy Stclair
7% Interest on a non-conforming ARM YIKES!
Hi allI'm a non-W2 employee and I've bought 6 houses the last 2 years with non-conforming loans at approx 4.25 - 6% interest, still making them cash flow without issue and putting 20% down with 30 year conventional lo...
Jack Smith
Expanding a legal non-conforming unit in Chicago
I run into this problem often in Chicago. A three flat building also has a full unfinished basement or a bit of attic space as well. I would like to duplex down the first floor unit into the basement, or duplex th...
Noah P Bonds
What happens to income from non-conforming units?
Property is zoned duplex, but has an additional mother in-law situation that is rented. So three tenants with three leases, but only zoned for a duplex. Very unlikely the city will care. Is there any creative way the ...
Phil Jones
Lenders in the area for non-conforming loans
Hi Everyone! A good friend of mine is looking to purchase a home in Westchester County after living in the city. They are having trouble getting a traditional mortgage (this will be their primary residence) because of...
James Matthews
Insurance claim question regarding a non-conforming basement
Hi BP Forum members.Newbie here!I purchased my first Investment Property last year so fairly new to this business. Was hoping to get some help with a question I have. The rental property in question is 2 bed / 1 bath....
S Harper
Changing basement bedroom windows to make conforming bedroom
Husband is thinking this may be a good way to increase the ease of rental - and more importantly - sale down the road. Anyone ever tried this?
thanks - suz.
Noah Lomax
Legalizing a non-conforming in Chicago ADU Zone
Hi Folks,
Just days before closing on a multi-unit in west Wicker Park we learned the city had revoked the permit for the garden unit of our building. After sorting out that headache, we went through with purchasing ...
Cara Lonsdale
House Hackers:Fannie / Freddie Just Raised Conforming Loan Limits
This is GREAT NEWS, and I wanted to share it with anyone who wasn't aware. This can really help those of you who are looking to house hack and/or anyone trying to use conventional financing.The Federal Housing Financ...
Eric White
Portfolio lender vs conforming conventional mortgage (New Jersey)
Hi Everyone,I'm very new to REI and have a few questions about the best types and ways to obtain financing.I have yet to invest in any properties, but I am planning to invest in single-family or small multi-family hom...
Michael Tucker
Commercial or Residential valuation on Non-conforming building?
Wassup BP!,I'm evaluating a post auction deal in West Baltimore City (Allendale). Its currently zoned R-6 with 2 Apartments and a Non-Conforming Beauty Salon. It has the Beauty Salon and an "unused commercial unit" th...