Cooper Raines
New stimulus bill & SBA Loans
When I first saw this, I believed it to be to good to be true. Included in the new stimulus is a clause that has been enhanced since the last stimulus. The long and short of it is that the government will pay for a po...
Ashley Sanchez
Help! Student Loan Debt Considered for FHA & 203k loan
Recently, spoke with mortgage broke to attempt to qualify for my first MFR to 'househack'/rent.
I provided him my general background:
Have 140k student loan debt
37 k annual salary
Credit score of 700+
He said that...
Joshua Hollandsworth
How is DTI actually calculated?
I always thought counting rental income was pretty simple. Someone told me today that I'm actually running my numbers incorrectly. Here's How I have honestly always believed DTI ratios are calculated while including r...
Jack B.
Am I still an accredited investor?
In the back of my mind I think to myself, I have 1.4 million. But using the accounting equation, when I look at the 1.6 million in real estate I currently still own and take the 700K in equity and 700K in cash I'm lef...
Rachel H.
Debt limit on Screening Criteria?
Hi Seattle landlords. Does anyone list particular debt limits (like, "no debt in excess of $1000 that isn't in a payment plan") as part of their screening criteria? I'm wondering what is both legal and advisable in th...
Jon H.
Interest rates impacting development planning
We're currently halfway through development planning (including soft costs) to a coastal multifamily development project. Looking for any anecdotal references on developers who have delayed current WIP projects due to...
David Humphrey
Owner Died, But Property Wasn't Included in Probate
Hey everybody,Found an off market deal where the owner died, the will was probated, but the real estate wasn't included in the probate. The executrix/heir of the property lives local to me, so no big deal there. It ...
Brandon Borah
Use HELOC to pay down high monthly debt obligations to qualify for high loan?
I recently applied for a HELOC, which I was advised by my mortgage lender would be used against me in my debt-income ratio. With a 3.5% rate and $30K HELOC, I will be looking at a $100 a month if the entire HELOC is d...
Jacklin Jackson
Question Regarding Qualifiable DTI
Help needed. I am working on securing my 4th investment property. I've recently completed an cash out refi on mine primary home. To date my only debts (in my name) are my properties, student loans and a few credit ca...
Nathan Zhivalyuk
Commercial Refi
I am new to REI but am interested in the Buy-Renovate-Rent-Refi approach. I have an LLC and we just closed on our first property last week (cash purchase). From having a short discussion with two different banks, I fo...