Garison Clemens
Qualifying for FHA with student loans
I am looking to buy my first property soon. I am looking to buy a duplex (in Volusia, Seminole or Orange County Florida) and was wondering if anybody that had student loans was able to still qualify for FHA?Also, has ...
David M.
Need access to a Heloc
My wife and I rehabbed a property 6 months ago and rented it out way above what the mortgage is. Current Mortgage is $460 and the unit rents for $1500. We want to take a heloc out on it to pay back her parents who hel...
Alexander Williams
Equity Loan on Land with rented mobile homes
I just recently bought a property that’s a 1 acre lot with 5 mobile homes on it, all currently rented. I don’t own the mobile homes I just charge lot rent. My question is:1) Will a bank lend (specifically an equity lo...
Michael Conway
Question about my debt-to-income ratio??
My wife and I recently purchased a duplex "house-hack" together. She had a short sale a few years back so we financed this through FHA. I am looking into another deal with a partner on a SFR. My gross yearly income...
Terry Brennan
Financing Rentals- New Jersey
Hello BP! I am looking for a good lender to finance rental properties. I can purchase good rentals in my area for 60k-75k but my lender I use for flips will not finance anything under 100K. I have great credit but mos...
Jana Heetland
The FHA Low Down = Higher Payment?
So I get that the FHA loan allows for a lower down payment but if you don’t have a lot to put down, how can you afford the higher monthly payment?
Andrew Mengele
Contract based job affecting bank lending
I have been applying for mortgages and lending recently and have encountered a hiccup. My job traveling doing specialty commercial construction is contract-based - meaning sometimes I work for a few hard months and th...
Kim Hopkins
Mathematical Connection Between Debt Terms & Cash on Cash Return
After over a decade of doing this, I still don't understand how the debt terms directly affect the Cash on Cash return of a deal. For simplicity, define CAP Rate (:= NOI/Purchase Price) and COC (:= Cash Flow/Total Cas...
Michael Dunn
Pay down Credit Card debt, to Increase Loan amount ..........
Good EveningI need some help in figuring out what to do with paying off 2 credit cards, and by doing so.... Increasing the amount that I can borrow for the purchase of a property, by another $10,000 ( I came up with ...
Daniel Mendez
BRRRR: Estimating ARV Mortgage Payment
Good morning BP,One of the things I have learned about real estate is to always make sure to calculate whether or not the property that you will be investing in will be profitable in the long run.However, I am still c...