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Broker requesting 401k statement for a mortgage loan.
I applied for a mortgage loan through a local broker that was referred by my realtor and was instantly Pre-approved because I have pretty good credit. I now have to provide the routine documents (W-2s, pay stubs, ta...
Michael Douglas Christensen
Private lending for down payment
Hey BiggerPockets! I am curious about private lending - specifically for a down payment. Has anyone ever done this and is it legal/possible? Let me explain the hypothetical ideal scenario I'm interested in and any fee...
Robert Ashline
100% Financing with a Conventional Mortgage?
Hey guys, I am working with a realtor in my area and I was talking to her about financing options for a purchase that I'm looking to close on in late summer. I was talking to her about an FHA loan and then she expres...
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***Need Advice*** Security Deposit Charge Back
Hello, First time for this situation and I need your advice on what options I have...Details:
Tenant payed the security deposit ($1,200) via Cozy and everything went thru money showed up at my bank account. Once dep...
Christina Kokologiannakis
Can you refinance with a cash out on buildable land?
We are closing on buildable land in a few days. We will eventually build an Airbnb on the property but can't do anything till the plans and budget are ready. Until we can convert the loan in to a construction loan, ...
Dave Myers
Over Budget on rehab loan
I'm in the middle of a multifam BRRR. Acquired the property for 1.6m + 200k (financed) rehab budget with DSCR ARV of $3.1m. Awesome deal, right!? The problem is that the project is over budget: I'm going to end up ...
Kimberly Theriault
Mortgage Rate Holds from the bank
Hi there. I am working with a bank to pull equity from my primary residence to finance my first investment property.
We’ve had a rate hold for some time, and now the final papers are showing a higher rate and I’m be...
Michael Doll
Classifying Rent as a Gift
Hello, I currently just bought my first duplex and will be living in the bottom unit with a friend while the top unit is occupied by a tenant. Can I classify my friends rent payments to me as a gift? The total amount ...
Brian Huber
Is it safe to remove the financing contingency from contract if there's still an inspection contingency?
Hi, I have a seller who wants me to remove the financing contingency from the contract. I still have an inspection and "approval of partners" contingency. Will that suffice for CYA?Thanks!
Joshua Hawkins
2nd mortgage
I'm new to this. Before I go out and start I've been getting everything all set up. I've got my investors, I've got my title company, I just have to find a realtor, and lastly I have to find a house. My question is th...