Drew Brock
How to structure seller financed deal? Owner has small 2nd mortgage
Hi all,I am looking at my first possible deal with a motivated seller that has relocated. The seller said they would consider a seller financed deal. The seller has not expressed an asking price and insisted on me m...
Michael King
Can you use a deed of trust in a mortgage state?
Hi everyone, Long story short, there is a gentleman who called me up on one of my ads to tell me that he got a good job out west and wanted to sell his house quickly. The house is located in Massachusetts (a judici...
Raquel Singer
Mortgage with a private lender - can I refinance with a bank?
I currently have a mortgage with a private lender; my credit score is great. Is there any way to refinance my private mortgage at 8.5% for a lower rate with a bank?
Melissa Espinoza
Should I pay off student loan first before applying for mortgage?
I am paying my student loan off in full before the federal repayment/interest starts back up in February (current balance is around $13k). At the same time, I want to apply for a mortgage loan for my first property. H...
Colby Zeller
MIP or Mortgage Insurance Premium included with FHA and 203k Loan
Im making this post to see if I can obtain more detail from all my BP experts on MIP when financing with a FHA loan. Ive read up on it a little and it seems FHA and 203k loans require this premium that requires you to...
David Ingram
6 months' worth of mortgage payments saved up to be approved?
Hi all! I have listened to BP Podcasts, read about 4 books from Brandon Turner and I'm getting my ducks in a row before I pull the trigger and finance my first long term rental. Talking with a lender I may want to go ...
Blake Harris
Velocity banking strategy to pay off a mortgage in 5 years?...
Can someone explain the velocity banking strategy? I have seen the concept explained as a way to use a HELOC to pay principle only checks to your mortgage as a way to pay off a loan in an extremely short amount of tim...
Benjamin Cowles
A couple newb questions about simple and compound interest and mortgages.
When figuring out the 'seller finance' terms with your seller or buyer how does simple and compound interest figure into it? I read that mortgages use simple and I also read they use compound interest. Who's the exper...
Jake Recz
TD Bank - no limit on number of mortgages for the borrower?
I was talking today to a friend who works in one of the local branches. She told me that TD Bank does not limit the number of mortgages a person can have in their name. I was quite surprised. She said that they fund t...
Joe Kim
rental property vs. VRBO/AirBnB and second home status for mortgage
BP I need your help!I have a property in Orange, CA that used to be primary residence from 2005 to 2009. I bought it near the peak of the market and was under water in 2009 when we needed to move for a new job. The...