Tom Wagner
Looking for exact formula for calculation of FHA MIP
I recently closed on an FHA 203k loan and am struggling to calculate FHA annual MIP. The calculation as outlined in HUD 4000.1 is not clear. I tried reaching out to my lender, as well as the FHA help desk, and neither...
Daniel Tsang
Advantages of seller financing if I can have conventional loan?
Is there any advantages for the buyer (me) to get seller financing if I can get conventional loan?I have a w2 job, excellent credit and 25% down payment to get a conventional loan. The seller is going to do 1031 excha...
Christine Kielpinski
Can a private lender create an impound account for home buyer?
Hi there,First time posting! We're in the process of closing on a house for our employee of many years. We are acting as the bank, setting up an installment note tied to deed, etc. What is unusual with this one is t...
Zach Wain
2021 Conventional loan size update
Hello All,Each year the Federal Housing Finance Agency reassesses the conventional loan size and high balance/super conforming loan size limits. After some speculation, the analysts were pretty accurate. Most predic...
James Hunt
Cash out refinance or equity loan???
Hello BP,
Looking to pull some money out of my rental to use for a 2nd property. Any advice?
Aaron Smith
Getting a 2nd Portfolio Loan: Go with New Lender or Same Lender?
Hi, I am trying to get some input here on what I should do. I have 1 commercial/portfolio loan with a local bank that has 3 properties on it. Total loan was for $300,000 and it was started in May 2016. The terms...
Patrick Milia
Sellers Credit when Selling Subject To
The answer seems obvious to me, but I'll ask the question anyway.
When a seller deeds their property to a buyer subject to the existing mortgage, that mortgage stays on the sellers credit report until the loan is pai...
Account Closed
Sale Leaseback and Master Lease Agreement
Hello all. First off, I appreciate all the help Bigger Pockets does for everyone in this industry, so big ups to you guys, (love the podcast).
My loan matures next year and wanted to know if this was a good idea. ...
Dave McEvoy
Anyway other than wholesaling for this particular house?
I have a potential wholesale property that this owner called me on regarding my bandit sign. Comps show potential ARV $180-190k. His balance for mortgage is $88k, but payment at $2260. County records show he bought in...
Ken Krause
Wage Garnishment
I had a tenant that I had to evict. I went through the court system and won the case. She did not pay so the only way I could collect any money was by garnishing her wages. Everything was going great and I was gett...