Brendan Savage
How to Cash Out Refinance / Little income / House Hack
My brother and I co-own a 4 bedroom home that we purchased fully in cash in September 2020 for $167,000. It is now worth about $200,000 conservatively. We rent out two of the rooms cheaply to friends, which collects $...
Nathaniel Hernandez
How to get approved when debt to income is high
Hello everybody, I'm trying to purchase a second rental property to hold but my debt to income is high because Im doing all the loans under my name alone. I own a single and duplex and I would like to purchase another...
Tomas Maira-Litran
Seeking Mortgage Options for Fourth Property in Boston/Cambridge Area
I'm an expat with a good salary paid in euros, already owning three properties in the Boston area and holding two mortgages. I’m looking to finance a fourth property. I have no W-2 income and have been advised to cons...
Steve Hiltabiddle
Loan Penalties: What do you use in your loan docs?
Hey BP Private and Hard Money Lenders
I’m curious what penalties you typically include or consider including when lending to flippers/rehabbers on shorter term loans, and what you might charge when applying the penal...
Don Pham
Recently Self-Employed: What income do lenders look at
Hello!TL:DR What income do loan officers look at? Total, Adjusted Gross, or Taxable Income?More in-depth: Should I file as sole-proprietor and reduce my tax liability by reducing my adjusted gross income (pays more SE...
Brandon Gamblin
Thoughts on using vehicle collateral funds for real estate investing
Ok guys.... Here the situation...I'm strapped for cash. I need a loan to put into my real estate business but my credit is not good and in the process of being rebuilt. I've tried and tried to get a personal loan but ...
Tim Malico
Looking for first house hacking property with a DSCR Loan.
Also, like to add with little to no money down. Any suggestions?
Roy Palmer
Savings/ business credit for rehab costs + traditional FHA for mortgage or FHA 203K?
Hello all,
As my girlfriend and I look to purchase our first househack, we are curious about the pros and cons of using savings/business credit for rehab costs vs. folding costs into the mortgage with a 203K loan.
...
Gabriel Suppes
Subject To Loan Modification
Does anyone have experience with subject to loan modification?
In this market there are many properties many properties that have negative equity. Even if people qualify for loan modification may be still inclined to...
Rolando De la Cruz
Who gets to know you are house hacking and who doesn't?
This question might be broad but I am talking specifically between the seller, the lender and the realtors. If I am getting a primary residence mortgage loan for 3.5% down, Is the lender allowed to know that I plan t...