Brian Rosher
What insurance to close on a BRRRR with conventional lender?
Getting ready to close on my first BRRRR and I am working on getting insurance quotes. My mortgage broker had a requirement for rental reimbursement rider. I had planned to have vacant property insurance since I wil...
Steven S.
1 year primary residence rule same for FHA and conventional?
Hey Everyone,I am getting very close to the point where I can refi out of my FHA loan on my primary residence into a conventional mortgage to get rid of my PMI.Once I do that I would like to make my primary a rental a...
Jorge Leon
First conventional sale. Buyer requesting seller credit for closing costs.
Hi all. My sister is looking to put in an offer on a property in Chicago, first time homebuyer, cosigning with my mother, they have a pre approval letter. I am a new agent and this is my first conventional sale/transa...
Account Closed
FHA vs Conventional for High Credit Score & Capital Available
Hello BP!I am getting my educational foundation set at the moment, so apologies if this question comes off as amateurish. I also realize this question has been asked here multiple times (I read the threads) but this q...
Spencer Hilligoss
LLC transfer approval from a large conventional lender (PART 2)
This is a followup to PART 1, posted last month: "Avoiding Due on Sale clause with a conventional lender. A saga."---This is a "learn from my mistakes" example for other new investors. If you intend to borrow from a b...
Shaun Palmer
Questions to ask a new bank for conventional, residential finance
Hello BPer's,I am moving to a new market and looking to find a new bank for conventional financing in hopes of finding a long term bank to finance buy and hold properties. I would like to get everyone's thoughts on w...
Tim S.
Line is starting to get blurry between HML and Conventional
I've noticed a recent trend where HML are starting to ask for loads of documents (W-2's, Bank Statements, etc.) in order to qualify for loans. On top of these documents they are now requiring the borrower to have a f...
Nicholas Martinez
FHA or Conventional Mortgage for 1st-time Investor? HELP NEEDED
I am looking to do my first deal in the next year to start my REI career. I am planning to purchase a single-family home to house hack for a year then move into a 2nd property while renting out the 1st. My questions s...
John Baughman
Go Conventional Financing or Continue to Wait for Owner Finance?
I’ve been evaluating and trying to purchase a 4 family in a smaller town about 45 minutes from my house (15 minutes from my office).Here are the #’s: (4) 1 bed units, approx. 1000 sq ft each.Market rents are $400 easy...
Bret Kingcade
Opportunity cost of switching to a conventional w/ private lender
This week I went under contract on a duplex that I planned to finance with an FHA loan at 3.5% down. Right after I told my family about the deal, my dad reached out to me by surprise and told me he'd be willing to len...