Private Lending & Conventional Mortgage Advice
145K Posts | 19K Discussions
Financing scenario/question template!
Financing scenario/question templateA lot of the posts in this forum amount to "how can I finance this?" with scant details that would allow for accurate answers. Please copy/paste this template when making a new... View more
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Question about Pre-Approval Process for Non-QM Lenders
Hello, I am in the process of getting a pre-approval before I start my hunt for my first rental property. My mortgage broker is pushing the idea of a non-QM lender being the one who funds this deal. My broker says I... View more
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Is it best practice to shop lenders?
Hi all. Is it best practice to shop lenders? Any tips/tricks or info around this would be super helpful.My situation:Credit score of 800-805 (depending on company). I want the lowest interest rate, and lowest down... View more
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Refinance Primary Residence
Hello guys, I'm currently in the process of refinancing my first property in CA as a primary residence I currently got a 3.99% rate 405k loan property valued at 495k?.... payments being $2750 taxes includedOption 1... View more
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What are the USDA loan requirements
Okay what i am wondering is this. I have two mortgages they are both multi-family houses. I am wondering if I would still qualify for a USDA loan. Since the USDA loan would be used for a single family property.
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Lending Qualifications No W2
Hello Bigger Pocket Family !!! This question has been a lingering one, and I have yet to see a clear answer on this one in other forums. I have a question for all you lenders out there. If there is enough proof... View more
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loan for multiple properties
Hi all, I am continuing to search the site, but thought I would throw my question out. I'm in Jacksonville FL and am seeing several small houses that I am considering for rentals. What are the odds of obtaining a loan... View more
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2 Different Loans within 2 Months
What's up BP??I am looking to buy my first absentee landlord rental property with a conventional loan by early June. I currently live in an apartment and my lease is up in August. My Fiancé and I have also been talking... View more
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Can I use future bedroom rental income for House Hack VA loan?
I am currently in the process of being preapproved for my VA loan. I plan to have my letter tomorrow. I am a regional airline pilot in Houston and have many coworkers seriously interested in renting bedrooms from me... View more
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Cashout Refi vs HELOC
Long story short: Wife and I need to refi our primary residence to take her ex-husband off of mortgage and put my name on there.Looking to tap into the home’s equity in the process to fund our first deal.Is it smarter... View more
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Getting a mortgage as an expat living abroad
Hi, I'm a US citizen currently living in London. I have a stable job working at a British company, but have not had any US income in the past 9 years. Looking to invest in the US real estate market again, and have... View more
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First Mortgage problem
Hello! I am 22 yo, and I made 30k this year. This is my first tax return. I am trying to buy a house thus year, using a fha 203k. However, I am worrying if maybe I'm not going to be able to get it since this is my... View more
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Can I leverage FHA or similar?
Looking to buy a 2-3 unit to live in for 6-7 months while construction addition is added on my primary. Can I leverage FHA or a similar loan for this MF? I have not used an FHA in the past and only own my primary... View more
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Renovation Loan for Duplex Investment Property
BP, I have successfully used a 30 year, conventional renovation loan for a single family investment property in the past.   I just got a duplex under contract, expecting to use the same loan product - of the two... View more
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Lender for LLC growth needed
We formed a LLC Investment Company in early 2020. Have purchased 8 properties since then, but all have been cash deals. Looking for continued growth in 2021, but looking at using financing for additional properties. We... View more
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I have a property and want to use the BRRR strategy but how?
I have a portfolio I purchased in 8/20. I’m looking to Cash out Refinance..... The portfolio consists of 2 multi Family and 3 Single Family homes. Out of the 5 properties only 1 of the Single family homes is currently... View more
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I recently became a Certified Private Money Broker and my original plan was I thought I would use that business to build my Capital so that I could then become a Real Estate Investor. As I started out in my Broker... View more
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Private Money Lenders - Email Solicitations...Legit or No?
Below is a cut and paste of an email sent to me (I get these frequently – their name is excluded here)…Anyone else get these and if so, what is your experience? Are they typically legit or not legit? If they are legit,... View more
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Procure investment loans (Individual) with high DTI ratio
Hello Everyone, I am exploring strategies on investment properties on how to procure more mortgage loan, but with higher DTI. 1. How to attain mortgage loans with higher DTI, and normal interest rates. 2. Are there... View more
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Has anyone dealt with Prem Singh & Sons, Inc.
I've been approached by Prem Singh of Prem Singh & Sons, Inc. of NY about funding my flips. He is offering 100% financing at 6%, but the catch is that I have to pay a loan origination fee up front before I can get... View more
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Hard money for Primary Residence?
Has anyone ever used a hard money lender to purchase a primary residence through a cash sale and then refi'd the hard money lender out a few months down the road with traditional financing? Any ideas are... View more
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Refinance BRRR in Georgia
Hello, I am at the refinance step in the BRRR method now. I'm wondering what the best way is to cash-out refinance. The property is held in an LLC, I am reading that this will restrict refinancing options only to... View more
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DSCR vs Bank Statement Loan for Self Employed?
Hi, I'm self employed, but my business didn't have that much income this past year.  I sold a property this year and made a good amount in the stock market, so I have those proceeds available to purchase a primary... View more
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Best Financing for a Duplex?
Hello,Are their lenders that will not require 25% down for a duplex? Can you point me in the right direction? 20% would be my sweet spot. Thank you!
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Creative financing advice
We have gone under contract to sell one of our rentals. I have never had an issue with financing before, but we both recently retired. Now no one will finance a new property. We have $200k to put down on one or several... View more
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