Newbie in rental business
I am a new investor in the rental arena and I want to know if banks allow for properties to be leased as vacation rentals? If there is a mortgage agreement already, what would stop owners from entering ...
Lenders who approve small loans
I own a one bedroom condo in Fort Myers Florida. The unit is fully paid and is earning rental income. My partner wants to sell her half for $50k which is a good deal given the market value of the proper...
Rental income gives me negative cash flow
My loan is under examination with a lender and they are looking at my existing rental income as part of computing my DTI. One of my rentals gives me $3200 monthly but my tax filing shows a negative cash...
Second quote consequences?
My family is applying for a VA home loan after some setbacks to our credit. We are pre-approved and our application is now with underwriters. We have an agent who works with us and he recommends that we...
Looking for fixed rate HELOC
I’m looking for a bank that offers fixed rate HELOCs. I have around $10k worth of equity in my property and would like to use a small sum to use on another property. What are the best steps to take?
Best time for closing?
Hi, I live in Wake Forest NC and I want to know if there is a best time of the month to close on a mortgage and why? Some say it is at the start or does it really matter? I heard that it is better to cl...
Buy property with low down
I want to buy land but I don’t have enough for a down payment. I don’t qualify for most loans due to no credit history. How can I buy and purchase property? I have enough income and some savings for...
Newbie house hacker needing advice
Newbie house hacker here wanting to learn the ropes. I plan to house hack to get started in real estate investing and was wondering what the limit is on low down payment owner occupied loans. I am looki...
Cash out refinance with No W2
I have talked with different lenders and they refuse to cash out refinance a duplex I have owned for 5 years because I don’t have a W2 job because I got laid off due to the pandemic. The property was ...
Loan application with no assets
I am self employed working as a broker for the past 5 years. I plan to purchase my first multi family unit that’s worth between $300k to $600k. I have enough money saved for a 20% down payment, with g...
Commercial loan or construction loan?
I am a small investor looking for my next deal. I am eyeing a duplex that is unoccupied and renovated that is also zoned residential and commercial. It has an empty lot adjacent to the property which ca...
Charlestown, IN - Dec 15th 2021
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No closing costs on refinance?
I just got an offer to refinance from 3.5% to 2.625% from 30 years to a 20 year term. I still have $300k unpaid principal and will end up paying $106 more each month if I refinance but pay off 3 years e...
Closing costs in Jersey
Hi everyone, I plan to move to Hazlet and I want to know how much I would spend on closing costs. I’ve been getting different information and I’d like to verify what is correct. A friend told me tha...
Can a realtor help in covering closing costs?
Can a realtor contribute toward closing costs? A bank just offered us to cover all closing costs on a loan so I was wondering if a realtor can do the same? I still have to compute though because if the ...
Bridge loan payoff plan
I will buy a new primary home using some of the cash I got from a bridge loan. Once I close the deal I plan to sell the primary home to pay off the bridge loan. Both properties are located in East Bay, ...
San Francisco, CA - Dec 14th 2021
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