[ljinvestor]

flu- who did you use for refi

[ljinvestor]

flu- who did you use for refi

[ljinvestor]

I just closed on an investment condo in San Diego with aimloan. Did 25% down to keep rate & closing costs very low.

Here are the 4 things they required of the property which can be answered by condocert or property management company filling out questionnaire.

1. Are at least 51% of the units occupied as a primary residence or second home

2. Does any single entity own more than 10% of the total units?

3. Are there more than 15% of the condominium/association fee payments more than one month delinquent?

4. Is the project currently a party in any litigation?

The answer to #1 had to be yes and answer to #2-4 had to be no or they will not finance it. Some lenders may have a way around those but I’m sure its a very small pool. I also assume down payment and rate would be higher

[ljinvestor]

I just closed on an investment condo in San Diego with aimloan. Did 25% down to keep rate & closing costs very low.

Here are the 4 things they required of the property which can be answered by condocert or property management company filling out questionnaire.

1. Are at least 51% of the units occupied as a primary residence or second home

2. Does any single entity own more than 10% of the total units?

3. Are there more than 15% of the condominium/association fee payments more than one month delinquent?

4. Is the project currently a party in any litigation?

The answer to #1 had to be yes and answer to #2-4 had to be no or they will not finance it. Some lenders may have a way around those but I’m sure its a very small pool. I also assume down payment and rate would be higher

[ljinvestor]

I just closed on an investment condo in San Diego with aimloan. Did 25% down to keep rate & closing costs very low.

Here are the 4 things they required of the property which can be answered by condocert or property management company filling out questionnaire.

1. Are at least 51% of the units occupied as a primary residence or second home

2. Does any single entity own more than 10% of the total units?

3. Are there more than 15% of the condominium/association fee payments more than one month delinquent?

4. Is the project currently a party in any litigation?

The answer to #1 had to be yes and answer to #2-4 had to be no or they will not finance it. Some lenders may have a way around those but I’m sure its a very small pool. I also assume down payment and rate would be higher

[ljinvestor]

I just closed on an investment condo in San Diego with aimloan. Did 25% down to keep rate & closing costs very low.

Here are the 4 things they required of the property which can be answered by condocert or property management company filling out questionnaire.

1. Are at least 51% of the units occupied as a primary residence or second home

2. Does any single entity own more than 10% of the total units?

3. Are there more than 15% of the condominium/association fee payments more than one month delinquent?

4. Is the project currently a party in any litigation?

The answer to #1 had to be yes and answer to #2-4 had to be no or they will not finance it. Some lenders may have a way around those but I’m sure its a very small pool. I also assume down payment and rate would be higher

[ljinvestor]

I just closed on an investment condo in San Diego with aimloan. Did 25% down to keep rate & closing costs very low.

Here are the 4 things they required of the property which can be answered by condocert or property management company filling out questionnaire.

1. Are at least 51% of the units occupied as a primary residence or second home

2. Does any single entity own more than 10% of the total units?

3. Are there more than 15% of the condominium/association fee payments more than one month delinquent?

4. Is the project currently a party in any litigation?

The answer to #1 had to be yes and answer to #2-4 had to be no or they will not finance it. Some lenders may have a way around those but I’m sure its a very small pool. I also assume down payment and rate would be higher

[ljinvestor]

[quote=La Jolla Renter]ljinvestor,

Is there a list of the specific lab tests each will require? Do they all require the same standard tests or are they different?

Unfortunately, I had a parent die of a heart attack very young, so I think I will need near perfect lab results to get a good rate.[/quote]

With that family history I’m pretty sure you can’t get Pref Best no matter how healthy you are. Certain carriers have underwriting niches and a good agent will know those

Once again, an agent that works with a agency that represents multiple carriers can ask some basic questions of your health & history and narrow it down to a few carriers. Some agents will actually take that info and get informal offers from 4-5 carriers to see which one you should take the application with.

[ljinvestor]

[quote=La Jolla Renter]ljinvestor,

Is there a list of the specific lab tests each will require? Do they all require the same standard tests or are they different?

Unfortunately, I had a parent die of a heart attack very young, so I think I will need near perfect lab results to get a good rate.[/quote]

With that family history I’m pretty sure you can’t get Pref Best no matter how healthy you are. Certain carriers have underwriting niches and a good agent will know those

Once again, an agent that works with a agency that represents multiple carriers can ask some basic questions of your health & history and narrow it down to a few carriers. Some agents will actually take that info and get informal offers from 4-5 carriers to see which one you should take the application with.

[ljinvestor]

[quote=La Jolla Renter]ljinvestor,

Is there a list of the specific lab tests each will require? Do they all require the same standard tests or are they different?

Unfortunately, I had a parent die of a heart attack very young, so I think I will need near perfect lab results to get a good rate.[/quote]

With that family history I’m pretty sure you can’t get Pref Best no matter how healthy you are. Certain carriers have underwriting niches and a good agent will know those

Once again, an agent that works with a agency that represents multiple carriers can ask some basic questions of your health & history and narrow it down to a few carriers. Some agents will actually take that info and get informal offers from 4-5 carriers to see which one you should take the application with.

[ljinvestor]

[quote=La Jolla Renter]ljinvestor,

Is there a list of the specific lab tests each will require? Do they all require the same standard tests or are they different?

Unfortunately, I had a parent die of a heart attack very young, so I think I will need near perfect lab results to get a good rate.[/quote]

With that family history I’m pretty sure you can’t get Pref Best no matter how healthy you are. Certain carriers have underwriting niches and a good agent will know those

Once again, an agent that works with a agency that represents multiple carriers can ask some basic questions of your health & history and narrow it down to a few carriers. Some agents will actually take that info and get informal offers from 4-5 carriers to see which one you should take the application with.

[ljinvestor]

[quote=La Jolla Renter]ljinvestor,

Is there a list of the specific lab tests each will require? Do they all require the same standard tests or are they different?

Unfortunately, I had a parent die of a heart attack very young, so I think I will need near perfect lab results to get a good rate.[/quote]

With that family history I’m pretty sure you can’t get Pref Best no matter how healthy you are. Certain carriers have underwriting niches and a good agent will know those

Once again, an agent that works with a agency that represents multiple carriers can ask some basic questions of your health & history and narrow it down to a few carriers. Some agents will actually take that info and get informal offers from 4-5 carriers to see which one you should take the application with.

[ljinvestor]

I am in the industry (not an agent) and there is really no fast way to do it. A couple carriers use to do simplified issue or instant issue term but the face amount max was approx $250k and it costs about twice as much as someone going through full underwriting.

Get your quote through USAA and then check with an agent or online quote service that offers multiple carriers. Metlife, AXA, ING, Banner, American General, TransAmerica, Protective, & Principal are all pretty competitive on 20yr term and should have good conversion options if your health changes drastically 19yrs from now and you want to move to permanent product at todays health rating.

Most likely the carriers above will see your health differently. Some might be at Preferred Best while others at Standard or worse. Going with a broker that represents multiple carriers allows you to take those labs/exam results & records to others carriers (shop them)and make sure you get the best offer.

I know its not the most exciting thing but it really is an important piece of financial planning. Good luck.

[ljinvestor]

I am in the industry (not an agent) and there is really no fast way to do it. A couple carriers use to do simplified issue or instant issue term but the face amount max was approx $250k and it costs about twice as much as someone going through full underwriting.

Get your quote through USAA and then check with an agent or online quote service that offers multiple carriers. Metlife, AXA, ING, Banner, American General, TransAmerica, Protective, & Principal are all pretty competitive on 20yr term and should have good conversion options if your health changes drastically 19yrs from now and you want to move to permanent product at todays health rating.

Most likely the carriers above will see your health differently. Some might be at Preferred Best while others at Standard or worse. Going with a broker that represents multiple carriers allows you to take those labs/exam results & records to others carriers (shop them)and make sure you get the best offer.

I know its not the most exciting thing but it really is an important piece of financial planning. Good luck.

[ljinvestor]

I am in the industry (not an agent) and there is really no fast way to do it. A couple carriers use to do simplified issue or instant issue term but the face amount max was approx $250k and it costs about twice as much as someone going through full underwriting.

Get your quote through USAA and then check with an agent or online quote service that offers multiple carriers. Metlife, AXA, ING, Banner, American General, TransAmerica, Protective, & Principal are all pretty competitive on 20yr term and should have good conversion options if your health changes drastically 19yrs from now and you want to move to permanent product at todays health rating.

Most likely the carriers above will see your health differently. Some might be at Preferred Best while others at Standard or worse. Going with a broker that represents multiple carriers allows you to take those labs/exam results & records to others carriers (shop them)and make sure you get the best offer.

I know its not the most exciting thing but it really is an important piece of financial planning. Good luck.

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