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Deal Hunter.
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February 27, 2008 at 12:06 PM #11944February 27, 2008 at 12:32 PM #160862
vizcaya
ParticipantHLS, thanks for the info.
I am waiting for this market to overcorrect, and pick up a rental home, or even a MFR. I have never been a Landlord. Would this disqualify me from getting a loan from this bank, even if I could make all the other requirements?
February 27, 2008 at 12:32 PM #161259ParticipantHLS, thanks for the info.
I am waiting for this market to overcorrect, and pick up a rental home, or even a MFR. I have never been a Landlord. Would this disqualify me from getting a loan from this bank, even if I could make all the other requirements?
February 27, 2008 at 12:32 PM #161156ParticipantHLS, thanks for the info.
I am waiting for this market to overcorrect, and pick up a rental home, or even a MFR. I have never been a Landlord. Would this disqualify me from getting a loan from this bank, even if I could make all the other requirements?
February 27, 2008 at 12:32 PM #161191ParticipantHLS, thanks for the info.
I am waiting for this market to overcorrect, and pick up a rental home, or even a MFR. I have never been a Landlord. Would this disqualify me from getting a loan from this bank, even if I could make all the other requirements?
February 27, 2008 at 12:32 PM #161172ParticipantHLS, thanks for the info.
I am waiting for this market to overcorrect, and pick up a rental home, or even a MFR. I have never been a Landlord. Would this disqualify me from getting a loan from this bank, even if I could make all the other requirements?
February 27, 2008 at 12:39 PM #161202HLS
ParticipantViz,,
It’s not one bank,, it’s FNMA guidelines…Dunno what’s going to happen. It’s layers of risk to the system.
From their experience, Rental condos are too big a risk if not owner occupied, there goes the option for non-owner.
That could change tomorrow, next week or never.If they want to loosen the noose, they would go to one year or no proof of landlord history…
If they want to tighten the noose, they raise it to three years history.Just like subprime created new options, at some rate and some down payment, somebody will offer you a loan, but as of today, you wouldn’t get the best rate/program.
Interesting times.
February 27, 2008 at 12:39 PM #161269ParticipantViz,,
It’s not one bank,, it’s FNMA guidelines…Dunno what’s going to happen. It’s layers of risk to the system.
From their experience, Rental condos are too big a risk if not owner occupied, there goes the option for non-owner.
That could change tomorrow, next week or never.If they want to loosen the noose, they would go to one year or no proof of landlord history…
If they want to tighten the noose, they raise it to three years history.Just like subprime created new options, at some rate and some down payment, somebody will offer you a loan, but as of today, you wouldn’t get the best rate/program.
Interesting times.
February 27, 2008 at 12:39 PM #161182ParticipantViz,,
It’s not one bank,, it’s FNMA guidelines…Dunno what’s going to happen. It’s layers of risk to the system.
From their experience, Rental condos are too big a risk if not owner occupied, there goes the option for non-owner.
That could change tomorrow, next week or never.If they want to loosen the noose, they would go to one year or no proof of landlord history…
If they want to tighten the noose, they raise it to three years history.Just like subprime created new options, at some rate and some down payment, somebody will offer you a loan, but as of today, you wouldn’t get the best rate/program.
Interesting times.
February 27, 2008 at 12:39 PM #161166ParticipantViz,,
It’s not one bank,, it’s FNMA guidelines…Dunno what’s going to happen. It’s layers of risk to the system.
From their experience, Rental condos are too big a risk if not owner occupied, there goes the option for non-owner.
That could change tomorrow, next week or never.If they want to loosen the noose, they would go to one year or no proof of landlord history…
If they want to tighten the noose, they raise it to three years history.Just like subprime created new options, at some rate and some down payment, somebody will offer you a loan, but as of today, you wouldn’t get the best rate/program.
Interesting times.
February 27, 2008 at 12:39 PM #160872ParticipantViz,,
It’s not one bank,, it’s FNMA guidelines…Dunno what’s going to happen. It’s layers of risk to the system.
From their experience, Rental condos are too big a risk if not owner occupied, there goes the option for non-owner.
That could change tomorrow, next week or never.If they want to loosen the noose, they would go to one year or no proof of landlord history…
If they want to tighten the noose, they raise it to three years history.Just like subprime created new options, at some rate and some down payment, somebody will offer you a loan, but as of today, you wouldn’t get the best rate/program.
Interesting times.
February 27, 2008 at 1:49 PM #161001ParticipantNot good for my plans. I will need to look into options, if this does not work itself out.
February 27, 2008 at 1:49 PM #161297ParticipantNot good for my plans. I will need to look into options, if this does not work itself out.
February 27, 2008 at 1:49 PM #161311ParticipantNot good for my plans. I will need to look into options, if this does not work itself out.
February 27, 2008 at 1:49 PM #161330ParticipantNot good for my plans. I will need to look into options, if this does not work itself out.
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