Alick Patrick
Need a creative advice on getting approved on a second loan
Hello BiggerPockets!I started investing in real estate early this year. So far I've managed to purchase one SFH for $385,000 15 miles south of downtown LA and a 3-unit Multi-Family property about 2 hours east of LA. I...
Mike Wallace
Help me understand the approval process of a multi fam loan
I own a 4plex and want to move up to a 10+ unit building.
I have great credit and 2 years professionally prepared tax returns earning 75k+
Can the expected revenue of the property that I want to purchas...
Michael Macquarrie
Low Credit Score? Tips for Getting Approved for Hard Money Loans
For borrowers with low or mid-range credit scores, what are some strategies for securing hard money loans? Are there specific lenders you recommend for more flexible terms despite credit challenges?
Colton D Lawrence
Creative ways to Improve Debt-Income to Qualify for Loan Approval
Hello all,
I'm looking to buy my first multi-family. I have a large lump sum saved in an investment account for down-payment and any additional costs. I currently have no debt and make under $100k a year. Because of ...
Wesley Hoover
Reliable ways to calculate costs
What are some good strategies to get accurate utility costs, vacancy rates, and insurance estimates so that you can calculate NOI and cash flow to take to the bank for loan approval? What are some good ways to find...
Will Foster
Looking for Property Managers - Colorado Springs, Colorado
Hello BPers!I'm getting closer to getting my home loan approved, and then the search for a property is on! Excitting and nerver racking at the same time.What I'm looking to do in the mean time is begin interviewing pr...
Jeremy Paschedag
Pay Cash For Houses?
In my market area I'm trying to acquire multi-family properties, the lenders will not approve the non-recourse loan. For me, the numbers look good. The down side is that the lenders want 50% down. So why not buy it...
If you’re a first-time home buyer, now may be one of the best times to get a loan in recent history, according to mortgage advisor Jeff Welgan. With new no-money-down mortgages coming out specifically to help first-ti...
Account Closed
Questioning Hard Money Fees at closing. Do these Fees seem right
I got my first hard money loan approval for 47,000. It's a Rental property with a 24 month term loan and no prepayment penalties. i only need the money for 2 month. Waiting on Heloc to process. Does the fees seem r...
Dunnell B.
Conventional Mortgage Financing
When applying for a conventional loan (for a rental property), will the bank base my loan approval amount on my current income (before the rental property is purchased and making a profit) or my total income with the ...