Chyniece Cox
Lenders backing out on deals
Hello everyone, I’ve been receiving a lot of calls and messages about lenders backing out on them at the last minute due to the corona virus. Even though corona has speed up business for me! I would like to know how h...
Aaron Henricksen
Debt To Income (DTI) on Second Home
I'm considering getting a second home to have as a vacation rental. The market I'm looking in is about 90 miles away from my primary residence. I'm curious if anyone knows what's the highest DTI I could qualify for wi...
Clay Massey
Lender Not Considering 1099 Income
I have stayed consistent in my industry (w2 income) for many years. January 2021, I lost my job (Covid challenges). I started a new w2 job in the same industry, July 2021I have 1099 income on my taxes for the last thr...
Sakshi Rambhia
FHA qualification questions
1. I'm looking into buying my first multi-family property on an FHA loan. My lender for the Bay Area said that when calculating qualification, they would have to assume I would occupy the largest / most expensive unit...
Connor Williams
Assuming a mortgage ?
If you assume a mortgage from a family member, do you have to occupy or can you rent the property? Is this lender specific? Wanting to assume a property and let MIL continue to live there while we own it. Her, paying...
Rohit Sengupta
Hard money loan for LLC
Hello - I am the majority owner (over 50%) of a property held in a LLC. If I am applying for a hard money loan, what participation will typically be required of the minority holders? Will they also get a credit check?...
Matthew Villalon
Introduction to the long term investment world
Good afternoon everybody,Just wanted to introduce myself. I’m a newbie looking to get into the world of multi family rentals on Long Island NY. I’ve read a few books on investment properties, and just looking for more...
Doron Rice
Lender doesn’t allow down payment money to be a gift
Hi,After contacting a few lenders I’ve realized that the down payment money can’t be a gift. Does anyone have an idea how rigid is this rule and if there is a way to work around it. I did receive funds from my parents...
Peter Morgan
Adverse mortgage market fees during refinance
Hello,I am in the midst of a mortgage refinance and I am done with initial formalities, signing the initial disclosures and providing the documentation and so far happy with the terms and It can take 30-40 days to clo...
Jeremie Cortez
Help with cash out refi!
Hi all,
I am the trustee of a property that is paid off. I am trying to cash out refi on that property and the mortgage broker I am working with says that I need 6 months worth of my personal homes mortgage and of th...