Ryan Fox
insurance requirements for hard money
I’ve been doing private lending for a while for fix and flips. I’m not sure the insurance requirements that I’m requesting from borrowers are appropriate. These are the rough numbers of a deal I’m currently underwri...
Michael Krassos
203K Loan - Is my Broker telling me the truth?
Hello BP community,
I am in process to purchase a short-sale property to be used as my primary residence and am looking into financing options. Property is in need of some repair including a visible water lea...
Evan Swanson
Good Credit = 3% Conventional Mortgage > 3.5% FHA?
If you have a good credit score and want a low downpayment, is the best option to go with a conventional mortgage? I was originally attracted to FHA loans due to the low down payments but it sounds like a conventional...
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TWO Mortgages for ONE House?
I'm in the market to buy my first home (30 year fixed), and today I talked with my first potential lender. It made me realize that I need to get ALOT more educated. LOL.
They approved me for up to $200,000 at 6.25...
Tee H.
Steps to take If i want to rent my home out
Hi, I have an FHA loan on our primary residence, and we have lived in the home for more than a year. We are moving and I want to rent our home out.What are things I NEED to make sure are completed before renting my ho...
Shawn Mcenteer
Mortgage insurance question
I found out today the monthly cost of a house I am looking to buy. The montly cost is roughly 1700, 180 of which is mortgage insurance. I am only putting 5% down on the house. I was told the reason i must pay the ...
Account Closed
Mortgage insurance premium
How do you get rid of Annual Mortgage Insurance Premium on FHA loan? and what happens to the the Upfront MIP? Is it refunded to us later or is it payed toward the mortgage later?
Chris Parker
Super conforming mortgage insurance no longer available?
My lender @Chris Mason called me today to inform me of something incredible:Apparently all the mortgage insurance providers he is aware of are suddenly no longer offering mortgage insurance for super conforming Home P...
Patricia Signor
Need to verify if loan officer is legit
We are applying for a 30 year loan to purchase STR in Florida. I found this loan officer on line because I wanted 30 years fixed and nobody local Will do that. The loan officer is asking for my personal property tax...
Tou Lor
FHA or Home Ready Loan?
With the FHA having high Private Mortgage Insurance (PMI) which could possibly ruin cashflow, I saw a forum that recommended using the Fannie Mae Home Ready loan instead. Can you share with me the difference between t...