Victor Gary
Earnest money refund
Hello, I was trying to buy a property and everything’s fine until I got the appraisal report. The appraised value is lower than what the lender expected, so the lender lower the loan amount from 80% (which is on the p...
Philip Johnson
Loan says I got 48 "Debt to income" ratio, what he talking about?
Hi,I have 5 flip-to-rent properties, and i have a day job as well ... I just refinanced a property and my loan officer said I have a "high debt to income ratio of 48" What does that mean? How do I get this down? I am ...
Ryan Stevenson
Differences in financing in Ontario?
Hey guys, I've been reading a lot of the bigger pockets books and others on real estate investing, they talk a lot about FHA loans etc. I don't believe we have anything like this in Canada, just lower DP for first tim...
Bret N.
Interest from Private Lender on Flips and Tax Deductions
I hope I am asking the correct question:If I am purchasing and improving a flip with the following scenario, how would the interest being deducted in terms of when I capitalize on the property? Or am thinking through ...
Greg Gallucci
Creative Financing
I have the opportunity to purchase a 100 unit apartment complex. The owner had recently taken out a CMBS loan that offers no ability to prepay without a significant penalty. We would need to assume the loan at a relat...
Michael Frish
mortgage loan commitment question
A question for those who are connected with a mortgage (working as a broker or with a broker) or have received a mortgage:
How legitimate is the broker's claim (clauses from the mortgage loan commitment):1" This appr...
John Wisdom
Is it possible to convert a home equity loan?
We used a home equity loan from our primary residence to purchase our rental property. It was great because there were no closing costs, the interest rate was much lower and the down payment requirement was much more ...
Luca Mastrangelo
Can you refi to new higher assessed value and eliminate PMI?
Im looking to buy a property in MA that I can live in for the next 2-5 years and then rent when Im done. Properties range from 300-400k. I could put 20% down but will leave little to no room for improvements/work th...
Aaron Jones
Can a new appraisal shorten the time needed to remove PMI?
I am going to try my best to explain my scenario and appreciate any responses.I recently bought a home for 200k and put 5% down on a 30yr conventional loan. My wife and I put about 40k in renovations (vaulted ceiling...
Dana Moore II
Late Pmt YEARS ago affecting my credit.
Two late student loan pmts made in 2015 are hindering my mortgage application from being approved. All other pmt history on student loans has been current and some credit card debt which is current. Not sure how to ...