Mauricio Marroquin
FHA Streamline to Compelety Remove MI
Current FHA loan is one year old with on time payments in the high 600 FICO scores. The recent sales indicate that he may have built 20% equity. If he does an 80% LTV Steamline with appraisal will that completely rem...
Nate Burnett
FHA + Owner Finance to avoid PMI?
Hi All,I just was wondering what others though of this idea. My husband and I got approved for an FHA mortgage, it requires 3.5% down. Unfortunately with FHA they also require PMI until we owe less than 80% of the loa...
Shivam Patel
Lender Says he can call note due at any point!
Hey guys,
I'm househacking in New Jersey. I was refinancing my loan out of an FHA into a conventional when the loan officer and I were discussing the rates and all. Then, I asked him, what my chances of applying for ...
Craig Moore
How to avoid PMI? Is this possible? (FHA Buyer)
Hi All,I was wondering if any of you had any advice on how I could avoid, if at all, private mortgage insurance. I have heard that this is a significant chunk of your monthly cash flow and if I can avoid it or shrink ...
Lauren Huffaker
Rental Property Advice - Pay down loan to remove MIP?
I have a rental property that I purchased to live in when I was still in school and when I purchased it, I put down the minimum to buy it so it has MIP tacked on. It is an FHA loan at 5% interest (fixed) - 30 yr. I b...
Alex Furness
Understanding Closing Costs
Hi everyone,First time house hacker & brand new to RE Investing here! Looking to purchase my first duplex in the greater Philly area over the next 6 months or so. I've started seeing some properties and also recei...
Ryne V.
Extreme creativity! Great idea or am I crazy?
I've been wanting to apply the BRRRR strategy for STR's for a a few weeks now. Well today I found the perfect place. That perfect place is seller financed only. The cash flow, equity and appreciation are all there but...
Kelsy White
Using FHA Loan to purchase Duplex - Put down more than 3 1/2%?
Hello BP Community,
We are planning on purchasing a duplex to live in one of the units and rent out the other. I mentioned using a FHA loan and only putting down 3 1/2% so we could use the rest of the money we have s...
Rich Tenor
Sub 2 Deal
Currently have a Sub 2 Deal in Burford, GA 30 mins from Atlanta. Unfortunately deal does not have any equity or cash flowing. Direct to seller.Purchase price 325,000
PITI 2,251.00
(Monthly payment Breakdown)
Prin...
Carolyn L Delli Santi
House Hacking with an FHA loan
I am considering an FHA loan and House Hacking a property. Only issue is that the 3.5% down payment plus the monthly PMI bring the monthly payments way up, vs a loan with a 20% DP and no PMI where payments are much lo...