Mark Tomes
Mortgage low end limits?
I am putting some information together for what could become my first flip but I have a possible hitch. Is there a low end limit on how little a bank would conventionally finance a home? I was told by two traditiona...
Mitch Mauer
Zero-Credit Mortgage
Has anyone been successful obtaining a mortgage from a traditional lender without having a credit score? I have heard some lenders use manual underwriting if a borrower has no credit. (Note: I am not referring to bad ...
Hans Kautz
10 mortgages and 2 Brrr’s, next long term financing needed.
I have a client who has 10 mortgages on single family rental homes. He has 2 Brrr projects on short term interest only financing and he needs suggestions for his next long term loan. The Goal is to pay off in 20 year...
Hersh M.
Down payment and APR for investors?
If the normal 30 year APR is around 4.2% for a normal owner occupied home mortgage, is the APR for investors always higher? How much approximately?And is it true that down payment for investors is also higher atleast ...
Jeremy Helsabeck
When can rental income be counted as income?
I’m in the process of purchasing my first investment property. I want to begin to prepare for the second property and wanted to know when the income generated from the first property can be counted as income to qualif...
Trent Torzewski
Financing Out of State
Hello, when purchasing rental properties out of state, do you use a mortgage bank or broker in the state you’re purchasing in? Or use the bank in your home state? In WI, looking to purchase in TN.
Lily You
Apply for mortgage with LLC
Hi all,I got pre approval letter from my lender under my name. But now I’m trying to set up a Llc and would like to apply for mortgage with the Llc.my questions are : what type of mortgage can I apply for with Llc, is...
Jay Hunt
Mortgage Suggestions for Bad Metrics EXCEPT for Equity/LTV?
Hi,Infrequent poster, but when I've needed wisdom, this has been my "stop."So, the situation: took out a second mortgage about 2-3 years ago to start a business that didn't go super-well (long story, not real estate ...
Matt Turcutto
Short Sales, Unrecorded Deeds, and a legal nightmare
My direct mail campaign recently uncovered a lead. For the record, I'm in California. Here's what I found by talking to the lady that called me and what I found on title:Man buys house with Wife 1. Man has daughter, D...
Ray Burrola
Taking over an existing mortgage,,
Hello BP members. I am taking over a mortgage from a family member. She has already paid 12 years of the 30 year loan. I chose NOT to do an assumption because I don't want the mortgage to affect my credit and debt to ...