Richard Mercurio
New Investor needs Refinance guidance
I bought my first college rental last May, its been rented ever since, had to pay all cash, no bank would lend to me, all said my debt to income ratio was too high, so I made the LLC, and bought house in name of LLC, ...
John Zimmerman
HELOC on property listed under LLC.
I purchased my first rental a couple years ago, a triplex as a primary home mortgage and moved the title under an LLC shortly after the purchase. I wanted get a HELOC for the property for repairs or another investment...
Billy Holt
Obtaining a conventional loan for first property
I'm looking to finance my first property. I've called 9 different lenders (mostly banks and credit unions) around their financing options and terms. When I tell them I'm looking to purchase a 2-4 unit multi-family tha...
Mary Dodd
Help mid deal. Wondering if I went with the wrong lender?
am just a bit distressed. We are in the middle of a purchase and are getting run around by the lender. I wouldn't say that except we have jumped through hoops since 7/15 and are just now being told that they can't su...
Sean Thomas
Denied a mortgage loan by Quicken Loans for excessive debt
Recently I was denied a mortgage loan by Quicken Loans for excessive debt. I was looking to purchase an investment property. Here is some background. I have 644 credit score, 125K salary, have 30k for down payment. ...
Mark Neiger
cash out refi on a vacation rental
I have a vacation rental that I purchased and rehabbed with a loan from a family member. The rental is performing beautifully and I would like to refi the home and pay back the borrowed money. I'm getting mostly no's ...
Mike Warder
Lender collecting wrong SC property tax amount...
I purchased two rental properties in late 2016 in South Carolina and the paperwork for the mortgages listed my property tax rate at 4%, instead of the 6% investment property rate. As a result each month my lender is c...
EDWARD M.
Mortgage DTI Calculation - Is my lender wrong?
I am currently applying for a loan. I'm not sure if my lender is calculating my DTI correctly. Please let me know if this is correct:Gross Monthly Income: 6,000Monthly Debt: 610Rental Income: 1,300 * .75 = 975PITI: 28...
Helene Vanderhaeghe
First property, now how to re-fi out of private lending
I have a firm offer on my first rental property (equal parts anxious and excited)! I waved the financing condition and I'm set to close in under three weeks. While I thought I would be able to get financing from an ...
Jenny Lynn Perron
Cash flowing Airbnb
Investment Info:
Other commercial investment investment.
Purchase price: $300,000
Cash invested: $80,000
Let me paint a picture for you of this amazing cabin we've got in the Red River Gorge. Pictur...