Amir B.
Interest Rate Advice
Hello BP Community,I am shopping around for a duplex and wanted some input on selecting the best rate for me.I'm going the FHA route. I have gotten an interest rate offer at 2.875% no credit back, 3.100% $2,000 back, ...
Keeya WangJones
Low interest rates, upfront cost, and points
Hi,
Can anyone explain how some lenders are offering low interest 3.5-4% but I need to pay for points or upfront costs? What does the points actually do? How does this method of lending affect a 30 year fixed?
Cheers!
Ryan Jones
Home Appraisal Clerical Error
Recently had a home appraisal come back low compared to contract price. Once I looked at the report I realized the listed contract price on the appraisal was incorrect. It was listed at 15k lower than what it actually...
Denise Lamkin
7 yr ARM refi - I thought it was a good idea and now I dont know!
We have 6 years left on the mortgage of or current home and have been thinking about refinancing since interest rates are currently 1/2 of our mortgage. The plan was to refi with a 7 year ARM and pull out a good amoun...
Sai T.
FHA loan listing price and appraisal value
Hi Everyone I need your suggestions and help.I’m have listed a home for 189K.Got an offer $185K and 8,500 closing credit.I counter offered and gave 2 options.1) If I get full price and I offer $7,000 closing credit Or...
Asim G.
Rule of Thumb Expense Ratio: SFR vs. 4'Plex (#askBP)
Hi,I have owned a triplex insince 2009 and am looking to buy some SFR as buy and hold. My average expense for the five years have been 46% and just like @Brandon TurnerI was impressed by how close the this was close t...
Joe Zen
Buying a property as your own buyer's agent tax
I am about to close on my first property (me = buyer, me = buyer's agent). I have heard that if you get a buyer's rebate, you do not need to pay tax, since you are just getting your money back (lowering the property c...
James Kim
Single family hone versus duplex rent
Hi,I was just curious whether rent rates for a duplex are lower than for single family homes if all else was equal. If the duplex had a back yard and covered garage just like a sfh, except you're sharing one wall with...
Angela Mast
5/1 ARM Refinance (and sell the property within 5 years)
Has anyone refinanced a 30 year fixed mortgage into a 5/1 ARM? I'm thinking about doing this to significantly lower my payments for the short term. With a 5/1 ARM, the rate is fixed for 5 years (60 payments) and then ...
Mike Harris
Apartment building down payments
What’s the lowest down payments can you make on a 6 unit apartment building? Either way owner occupied or just an investment property?