Investment Properties

[waiting hawk]

The NOO property I bought I had to put down 25% and qualify without any preceived rental income meaning I had to have the ability to pay for it as if it was empty. I put down 41% and got a 6.75% rate.

[HLS]

WH,,
Sounds like you got some great advice there…
Did you get one of those expensive “no cost loans” ?

Did they tell you that your rate could have been under 5% fixed for 30 years ?
That with the exact same amount of cash that you used you could be in a MUCH better loan, fixed for 30 years and you could be saving tens of thousands of dollars over the life of the loan ??

I just signed a borrower with 40% down on a 4.875% NOO purchase.

Bad mortgage advice is REALLY expensive…HLS

[HLS]

WH,,
Sounds like you got some great advice there…
Did you get one of those expensive “no cost loans” ?

Did they tell you that your rate could have been under 5% fixed for 30 years ?
That with the exact same amount of cash that you used you could be in a MUCH better loan, fixed for 30 years and you could be saving tens of thousands of dollars over the life of the loan ??

I just signed a borrower with 40% down on a 4.875% NOO purchase.

Bad mortgage advice is REALLY expensive…HLS

[HLS]

WH,,
Sounds like you got some great advice there…
Did you get one of those expensive “no cost loans” ?

Did they tell you that your rate could have been under 5% fixed for 30 years ?
That with the exact same amount of cash that you used you could be in a MUCH better loan, fixed for 30 years and you could be saving tens of thousands of dollars over the life of the loan ??

I just signed a borrower with 40% down on a 4.875% NOO purchase.

Bad mortgage advice is REALLY expensive…HLS

[HLS]

WH,,
Sounds like you got some great advice there…
Did you get one of those expensive “no cost loans” ?

Did they tell you that your rate could have been under 5% fixed for 30 years ?
That with the exact same amount of cash that you used you could be in a MUCH better loan, fixed for 30 years and you could be saving tens of thousands of dollars over the life of the loan ??

I just signed a borrower with 40% down on a 4.875% NOO purchase.

Bad mortgage advice is REALLY expensive…HLS

[HLS]

WH,,
Sounds like you got some great advice there…
Did you get one of those expensive “no cost loans” ?

Did they tell you that your rate could have been under 5% fixed for 30 years ?
That with the exact same amount of cash that you used you could be in a MUCH better loan, fixed for 30 years and you could be saving tens of thousands of dollars over the life of the loan ??

I just signed a borrower with 40% down on a 4.875% NOO purchase.

Bad mortgage advice is REALLY expensive…HLS

[waiting hawk]

HLS was that in Aug of 2008? ok then…
on your current rate my payment would be a whole 40 a month less. OMFG where do I refi and pay closing again rofl.

edit: All the “brokers” could not even come close to retail when I bought my places. Even posted a scenerio on outpost and all them said CW was the best deal and they could not touch it. Waste to go with a broker imo.

[waiting hawk]

HLS was that in Aug of 2008? ok then…
on your current rate my payment would be a whole 40 a month less. OMFG where do I refi and pay closing again rofl.

edit: All the “brokers” could not even come close to retail when I bought my places. Even posted a scenerio on outpost and all them said CW was the best deal and they could not touch it. Waste to go with a broker imo.

[waiting hawk]

HLS was that in Aug of 2008? ok then…
on your current rate my payment would be a whole 40 a month less. OMFG where do I refi and pay closing again rofl.

edit: All the “brokers” could not even come close to retail when I bought my places. Even posted a scenerio on outpost and all them said CW was the best deal and they could not touch it. Waste to go with a broker imo.

[waiting hawk]

HLS was that in Aug of 2008? ok then…
on your current rate my payment would be a whole 40 a month less. OMFG where do I refi and pay closing again rofl.

edit: All the “brokers” could not even come close to retail when I bought my places. Even posted a scenerio on outpost and all them said CW was the best deal and they could not touch it. Waste to go with a broker imo.

[waiting hawk]

HLS was that in Aug of 2008? ok then…
on your current rate my payment would be a whole 40 a month less. OMFG where do I refi and pay closing again rofl.

edit: All the “brokers” could not even come close to retail when I bought my places. Even posted a scenerio on outpost and all them said CW was the best deal and they could not touch it. Waste to go with a broker imo.

[Ren]

Hi HLS, quick question for you – if we have 30% equity in our primary residence, and buy another property with the intention of moving there and renting out the first, does 75% of the potential rental income of the first property count when qualifying for the second, or would it have to actually be rented?

[Ren]

Hi HLS, quick question for you – if we have 30% equity in our primary residence, and buy another property with the intention of moving there and renting out the first, does 75% of the potential rental income of the first property count when qualifying for the second, or would it have to actually be rented?

[Ren]

Hi HLS, quick question for you – if we have 30% equity in our primary residence, and buy another property with the intention of moving there and renting out the first, does 75% of the potential rental income of the first property count when qualifying for the second, or would it have to actually be rented?

[Ren]

Hi HLS, quick question for you – if we have 30% equity in our primary residence, and buy another property with the intention of moving there and renting out the first, does 75% of the potential rental income of the first property count when qualifying for the second, or would it have to actually be rented?

[Author]

Posts