Brock Lile
Can we buy a rental property via FHA through my wife?
Hello everyone.My wife and I were talking last night and she actually brought up an idea I didn't have an answer to. I'm sure someone here knows.I bought my current residence in '08 via an FHA loan. I recently got mar...
Derek S.
REI and effects on VA Home Loans
Hello BPers!I am looking into obtaining a standard mortgage for purchasing a home as an investment rental property. I have a little money to put down for my first rental (likely less than 20%).I am a veteran and have ...
Ojam Dawson
DSCR Loans with Little to no Closing Cost
I have a single family rental property in PA that I'm trying to refinance into a DSCR Loan. But every lender is asking for a high end closing cost, which leaves me with virtually nothing to pull out from this home. An...
Dyryl Burnett
Was YOUR Credit Score and Savings strong when getting your first Property??
Greetings All,
I'm really desiring to make my first purchase before the close of 2014 but I'm a little worried about my current credit score. I hear different FICO scores everyday and am currently repairing my score...
Rob Estes
$350K in home equity credit....how would you invest it???
So basically the title says it all. I have approx. $350,000 in home equity that I am looking to reinvest. I wanted to get suggestions from those of you with much more experience then I have. Right now, I have a rental...
Chris Ono
10% Closing Cost in Memphis?
Hi everyone,
We're looking to purchase 2 turnkey properties from Memphis Invest, but the mortgage company that was recommended (not by them, but they work with them regularly) is charging 10.1% to purchase price in c...
Kelly McMillan
Mold! How to finance/remediate if I can't appraise?
We have an offer on a duplex with some extensive mold. I've dealt with mold, and plan on gutting and renovating regardless, so it is not a big issue. However, I didn't realize our mortgage broker can't get an apprais...
Paul M.
HELOC or lien?
I heard local banks will use your equity in existing properties as a down payment for an acquisition by placing a lien on that property. In the past I have taken out a HELOC, used that as the down payment for the n...
Tim Parker
Duplex lending standards
I am financing a duplex. The lender wants top of market rates and will only lend to 60% of appraised value. Is this common?
Derek Gardner
Where to find best pricing for owner occupy refi on fourplex in Los Angeles 57% down
About to close a deal all cash for $1.46M and was going to get a cash out refi after to take out about $630K in cash. A friend in lending told me I'd get better pricing if I have private lender do a $630K loan, record...