Michael H.
Lender pulled plug on conventional refis for rentals as of monday
Hey BP family,
Ive got another property into hard money, started the conversation early with the lender to refi out of hard money,and they sent me packing. something changed monday, and they said for the next month...
Account Closed
Should I refi out of conventional to get another fha loan?
Hi there! I have a duplex I purchased in 2018 and have gained about 150k in equity. My mom moved into my unit as I live in another part of the state. I have decided I want to move back Into my favorite ski town, my mo...
Brad Fallon
Can you pay off the PMI first on a conventional mortgage?
The title says it all. Instead of factoring it into your monthly payment, can you just pay off your PMI at the start of the amortization period?
DeAndre Wheeler
Should I use conventional financing or use BRRRR on this deal?
I have a potential deal on the table but I’m not sure whether to use conventional financing or to try to execute a BRRRR strategy. The condo costs 150k and its a bank repo/foreclosure. All of the comparable homes in...
Taylor Thompson
Why do you refinance from a fha to a conventional loan?
Hello this question may have been asked before and may be obvious but why do most people refinance from a fha loan to a conventional? When I get my first property I’m going to be doing a 3.5% fha loan with down paymen...
Justin Bush
No BRRR market, should I switch to conventional loans for now?
I live in a small town and want to stay local for now. I am not finding any houses that I can BRRR. Should I switch to conventional loans to keep building my portfolio, until more houses come on the market that I can ...
Ray Slack
Convention Loan- Can seller hold 2nd if appraisal comes in Low?
Can a Seller hold a 2nd mortgage on a conventional Loan?
Selling Price $200,000
Down payment 5% ($10,000)
Loan amount $190,000
The appraisal comes in at $191,000Will banks or Fannie mae/freddie mac allow the sel...
Dennis Powers
Can I attach a multi person LLC to my conventional loan
Can I buy a property with a conventional loan myself, then attach a LLC to the property with my 2 partners? Will the bank allow that? That said if we were to run a business out of that house under a LLC could the ban...
Raul Ruvalcaba
How many conventional loans are you allow to have? July 2016
Hello, I currently have 4 conventional loans. They are all investments. I contacted the loan officer who had helped with those loans to try and get a 5th investment. However, she advised me the rules had changed and I...
Rick Meloni
Conventional IRA in Stock Market vs Self Direction IRA in notes
Ok Note investors I would like to hear what part (percent) of your IRA is invested in the Stock Market and what part (percent) is invested in notes with a Self Directed IRA and your thoughts on diversification vs all ...