Adam Pervez
Mortgage rate at 6.5-6.7% for a 5% down
Hi,I have worked with a few lenders and have been seeing rates for a 5% owner occupant conventional loan floating around 7.1 - 7.3%. I recently got in touch with a smaller bank that is able to do a 6.5% interest rate....
Robert Freeborn
No, that is NOT a great deal!
Am I the only one who is tired of seeing these "deals" in the market place, or from other sources, advertising "amazing deals" that have barely any meat on the bone?I suppose this is mainly an issue with wholesellers,...
Gordie Prescott
Property in Pre-Foreclosure with an ARM
Hello all,I was contacted just recently by a seller whose home has the following challenges: In pre-foreclosureHas not paid the mortgage in 2 yearsRented the property and was not eligible for refinance as a homeownerH...
Robert Williams
Title company in Illinois refuse to do a double close…
So I have been calling around trying to get lists from title companies in Illinois (no lick as of yet) but was informed by all of them that they cannot do double closings unless the first transaction is escrowed, or t...
Terry N.
Earnest money in due diligence. Non refundable?
Got this response from a seller. Does this sound reasonable?“…seller accepted most of the initial terms of the offer, but requested the earnest money be $3500 in due diligence (non refundable) and $1500 in earnest m...
Christy Philippoff
Rental property process
Hi everyone!We have a house up for rent and this will be the first time we are renting a house without going directly through the military. What process do y’all use to handle applicants? For example: do y’all take t...
Jason K.
Collecting a referral fee -- Advise against??
How common (or uncommon) is it to refer one of your investors to another wholesale deal that is not your own, and collect a pre-arranged amount from the wholesaler, before or after closing?
Does the business frown up...
Caroline Gerardo
FHFA backed down on granting LLPA better pricing
After the MBA and hundreds of mortgage lenders and consumers complained to their Congressperson the FHFA rescinded its plan to offer a bit better pricing to lower FICO score ranges and debt to income ratios. Though ne...
Uday Maripalli
What is considered a reasonable HOA?
A lot of condos and town-homes in Seattle/Bellevue area seem to have really high HOAs. How does one decide if HOA fees are reasonable? We recently saw a town-home that we really like. There are about 20-21 town-homes ...
William Hinsche
Is it normal for NQM lenders to charge 8% closing costs?
Is it normal for NQM lenders to charge 8% closing costs for purchasing investment residential 2-4 SFHs?