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When selling a property via owner financing are there any terms beyond the obvious (price, term, interest rate, late charges, ect... ) that I should have my attorney build in to the contract? I am aware of Dodd Frank....
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May be I am overthinking it.Once we have a primary residence loan with a bank, how to approach them for loan on investment side? should we even say we are taking for investment purpose? I am hearing bank does not give...
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How to Owner Finance a Home – 8 Steps to Think About1.Get an appraisal or broker’s price opinion from a Realtor (BPO) to determine the price of the home. Both the buyer and the seller can hire their own appraiser or R...
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Hey BiggerPockets community!
I’m looking to start a discussion on the best systems and tools brokers are using to efficiently run their business. Whether you’re a mortgage broker, real estate broker, or running a pri...
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I live in California and have a real estate broker license. This qualifies me to be a residential mortgage lender. Does Fannie Mae/Freddie Mac allow an RML to write loans for self/spouse? Is anybody doing this? On...
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The total loan is 135k for a 180k property. The loan originating fee of 3.4k seems high. My closing costs are almost 9%. Does this seem normal?
A. Origination Charges$3,412.5001 % of Loan Amount (Points...
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I just purchased an investment property for $91,250 with 20% down on a FNMA backed loan at 7.625% interest and was charged the following:3.909% loan origination: $2,854Appraisal management fee: $85Processing Fees: $80...
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A fundamental change in the way mortgages are regulated took affect earlier this year. Provisions of the Dodd Frank Law created the ATR (Ability To Repay) rule and QM (Qualified Mortgage) safe harbor. If the lo...
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I am working creating the best terms for an investor on a 15,000 sq ft lot where 2 things can be built:12 2 bedroom apartments that rent for $2,200 each. $26,200/month & $314,400/year. NOI as 60% of gross= $188,64...
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Hi everyone I'm a Brand new Team Loan Originator out of Dallas, Texas for PrimeLending and wanted to ask a question to my fellow Loan Originators about how they were able to get started in this business building clien...