Kang Thao
Need advice on financing options
So we have been in the Twin cities market looking for our first mulifamily property (preferably 4plex) to purchase with the plan to use FHA financing. One main problem we are having is that many seller's terms don't i...
Jitao Niu
bank increased my mortgage interest rate by 0.75% for no solid reasons
A local bank suddenly increased the rates of several loans, resulting in over $40,000 increase of interest annually.
when I found out, I asked for the reason. They said it's because I did not follow the rules for mar...
Jarrett Mel Williams
Home Equity Line of Credit
Hello,I'm looking into accessing a Home Equity Line of Credit on my residence. Loan: $488kRefinance Appraisal: $615kIs there any banks or lenders anyone has used in the past and what have been everyone's experiences ...
Jill Thomas
Private lending rate question - is it APR or term?
This sounds like a dumb question but in private lending, generally, is the % rate annual or for the length of the short term loan? I'm pretty sure it's annual unless otherwise discussed and I know that private lending...
Charles James artino
Financing a BRRRR Property
Trying to do the BRRRR method. Purchased a forclosure and rehabbed it using money from a HELOC on my house. So the property purchased is free and clear of any loans. Went to the bank to get a loan 0n 70 % of the value...
Roger P.
How NOT to affect credit score by applying w/ multiple lenders
Hi BP,Maybe we chalk it up to the "cost of doing business" when applying for loans with multiple lenders to find the best deals on financing, but what are some rules of thumb to try to avoid getting multiple hits to y...
Account Closed
Rental property loans
I'm researching about real estate investing and I'm confused on what loan to use, am I able to use a conventional loan to fix and flip or keep it as a rental, or do I have to get a non-owner occupied loan? Do I need t...
Andres M.
No loan under 100k because of safe harbor guidelines? Need advice
I called a conventional lender to get pre-approved for a loan for an investment property (in OH). The asking price for the property I had in mind was $70k with a 25% down payment of $17,500 which means the loan amoun...
Steve Fernandez
Decision factor - 4 units or 5 units on renovation
I’m about to make an offer on a latge home with a large detached garage. Meeting with an architect, and the question came up on the renovation. I have the ability to convert the property to either four or five units....
Jermaine Waldron
Cash out refinance and transfer to LLC
My plan is to place my current residence in an LLC and utilize as a short term rental (AirBnb, VRBO, etc.) and also do a cash out refi. I formed the LLC, and then was notified that since I have an FHA, I could not qui...