I'm under contract for a multi family in Arizona. I'm doing an FHA loan and I'm working with a lender I've worked with the last couple deals I've done. He initially offered me 3.25 par with no credits. Then I talked t...
Hi BP Family! I wanted to ask how long do I need to wait to apply to buy the next property with a conventional mortgage? Is it 60 or 90 days? I closed on the last property on June 26th. And what if i decide to buy the...
Investment and commercial properties have different loan requirements than residential properties.
A higher down-payment is required. The minimum is 25%. This is the first key difference.
The reason for this: banks...
Hello BP community,I am a new BP member from Orange County CA, and need to refinance the loan on my current property in order to start my REI journey. I have heard that to refinance you need to "shop for a good rate."...
My parents have had their house paid off for over 15+ years already. The house is worth about $250k. Is it a good idea to finance the house to tap into the equity? (using the money to invest in more real estate).My co...
So I have been finding out the hard way that rental income does not always count when qualifying for another mortgage.I am house hacking our primary residence. Although I collect rental income from our long term tenan...
So I bought my first home (duplex) using a VA home loan a few months ago. Everything went well and now I’m ready to buy my second home (triplex) but there’s a problem, Underwriting!!I am being told by numerous lenders...
Hello all. I recently started getting involved in "wholesaling" commercial properties. I have experience with residential properties, but when it comes to finding buyers for multi-million dollar commercial properties ...
Hello BP friends-My husband and I are just getting started on our investing journey and let me start by saying we are so thankful for each and everyone on here who shares their wisdom in articles and posts. As part o...
I was just told by one of the mortgage lenders sponsored by BP, that in Texas, COVID has messed up refi rules.
Per her, TEXAS 50(a)(6), says that investments can only be refi'd IF the house was a primary WITH a home...