Mike C.
Lender Rules Re Mortgage-to-Income Ratio For Investors?
If lender's maximum desired ratio for borrower's mortgage payments to gross monthly income is 28%, how can a person with average income ever have a mortgage on more than one "average" property?Income from investment p...
Jess Azong
Cash-out refi question
Hello! So, friend bought a property cash under their name and now refinancing (cash-out refinance) the property into an LLC that is jointly owned by both of us. The lender insists on paying the proceeds or the cash-ou...
Naina Green
Help! I'm living a renovation/mortgage nightmare!
Hello! We are new homeowners, new to this site and have just started on the path of REI. We bought a house in Mt. Washington (Pittsburgh) in June 2017 through a Fannie Mae HomeStyle Renovation Loan. We first made an ...
Carlos Enriquez
WA State lender won't loan me more than $801,000 due to LTV
Jumping right in, I was told today that I would have to cough up $349,000 DN for a $1,000,000+ 4 plex. 25% would have been $287,500, which would have been easy.So now I'm considering breaking my IRA, cleaning out my...
Jackson Malcolm
Chattanooga Lenders With No Seasoning Requirement
Hey BP,I recently completed the rehab and placed tenants for my first single family BRRR deal in Chattanooga, TN. Now it is time to refinance!I have been hearing from lenders that it is a Fannie/Freddie requirement to...
Rob McGahen
Building a commercial property
I'm looking at building a commercial property, part of which I will use for another business that I own, the rest I plan to lease out to other companies/individuals.I had thought about buying and converting a building...
Kyle Rosseau
HELP: FHA Appraisal Issue - Projected Rents
HI BPI am in contract with a 4 Plex in Oakland CA. We are about to close and just got notice from the appraiser that the current rents are projected to be $4,400. Apparently the FHA loan has a self-sufficient guidel...
Carl Mccrory
Are there really lenders that let you Refinance after 4 months?
So in David Green's book "BRRRR" he mentions that banks will let you refi after 4-6 months. I have seen lenders that do the 6 mo refi, but haven't seen the 4 month at all. I am prepared to keep reaching out to as many...
Ramon Wilson
Dirty Secret of ADUs
I am doing a BRRR on a triplex and wanted to add an ADU to maximize the value of the property. I was told by the lender that if I add the ADU the property will no longer qualify for conventional financing. SFR’s that ...
Sean Sullivan
Subject to with a VA loan
Hi Everyone,
I have a seller with a VA loan who is willing to sell the property to me on a subject to basis. She's not concerned with taking out another loan so, the entitlement limits are not a concern. My difficult...