Is anyone familiar with a 1/1 buydown? I just learned of it through a lender. It is a Fannie Mae ARM with the first year being X and the remaining term of the loan increasing and becoming fixed by 1% the following yea...
The FHA 203-k loan program can be used to purchase properties in run down condition. The nice thing about this program is that instead of having to pay closing costs twice, (i.e. for a conventional loan and also for a...
Hi folks,I recently purchased a 6-unit residential apartment building using commercial financing and 25% down. Of the down payment, 70% came from a HELOC on my primary residence (owner occupied 3 unit).Unfortunately, ...
I would like to credit back a portion of my buyer's down payment on a house, say a few days after closing. We'll then write a promissory note for the amount, maybe attached by mortgage (if not, a lawyer said attaching...
Is it possible to receive an FHA 203(k) loan as an additional loan to your mortgage? For example, only take out 3,000-5,000 to replace kitchen appliances in a multi-family. CT offers a CHFA program for first-time home...
I bought a two family to house hack 6 years ago for 335k. I plan to sell the smaller apt. two weeks from now for 380k. Did I just make money, lose money, or just shuffle it around? It’s too late now, but now that I’m ...
my girlfriend has a school loan in which the payments have been deferred. do they (banks) give personal loans were you can defer payment ?
Hello, I recently purchased my first duplex, which is a fixer-upper, and I am currently the process of making repairs and renovations. Investment strategy is to maximize rental value and hold long term. My budget is...
What I'm asking is when taking out a loan for a property to purchase can I take out extra funding to make repairs on the home as well? I want to buy a property to rent out and use some of the loan money to make repair...
I live in a safe, affordable neighborhood with a low crime rate, and own a rental property here too. However, there is a lot of blight and some homes are in desperate need of upkeep. Strange place. There's a gorgeous ...