Saul Garcia
Own a home fha loan. I want to buy an investment homewithlittle$
I'm stcok here I have a house with fha loan I got $10,000 to buy an investment property but banks are asking for 20% down. I just want to put around 3-5 %. Can I tell them that I want to move to the new house and buy ...
Andrew S.
FHA loan and condo purchase
I've been doing some reading about FHA loans. Apparently, there's a list on the HUD website of approved condo buildings. It seems like if the condo building of the condo I like isn't on that list, then I can't buy it ...
Greg Baker
Don't write off too much?
I contacted a recommended mortgage banker at Bank of America. I shared with her that my goal was to purchase my first buy and hold property within a year using Conventional financing, and then within 2-3 years, my fa...
Dave Lin
Need help! HELOC qualification... ?
Newbie to REI but am eager to get started! I'm currently rebuilding an old property (as my primary residence). Bc I am self financing the project, I am planning on getting a HELOC after the project is done for REI....
N/A N/A
Financing Options. Short and Long Term
Ok Im new to investing and am trying to figure out the best strategy for financing. Here is my situation:
- I own my home now for 3+ years. Owe 102k on this home and it just recently appraised for 145k.
- My credit...
Courtney Nguyen
What is the legal limit on interest rate (over Federal Reserve rate) for private loan
Hi BP community,
So I heard interest rate on private loan can only be 10% over Federal Reserve rate, is that true?
For example, as of now 3/20/2023 the Federal Reserve interest rate is 4.5% - 4.75%. Let say our hol...
Charles Granja
Does an underwater mortgage stop me from purchasing real estate?
Hello,I have a question on a scenario:From what I am aware on QM loans, what matters is my credit score (history of paying debt service), my income (W2/DTI), my rental property income (2-years), and cash reserves. Let...
Tyler Quick
Getting started out
Hey BiggerPockets team, I’m new to investing and have been digging deep for almost all of 2022 trying to figure out the best way to start out my real estate journey! Little background , I purchased my primary residen...
Jordan L.
How many times can you get a traditional loan?
I have been listening to most of the podcasts and I keep hearing that most of the investors say they have exhausted the way to get a traditional loan, What is the maximum amount? Can you ever max out a portfolio l...
Kenny Lincoln
How To Understand Reserves Needed for Financing
Looking for feedback about the following scenario, thanks BP. Plan to sell an investment property and receive around $215k. I would like to use a 1031 exchange to leverage all of this money. I’m trying to get an under...