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Mortgages & Lending

FHA Mortgage vs Conventional Mortgage

by Joshua Bucio March 18, 2013

There are a few different mortgage programs to choose from and each have their own benefit, depending on your situation. The two most popular mortgage programs among most buyers recently, are the FHA mortgage and the conventional mortgage. You can also read about an article I wrote about popular mortgage programs for first time home [...]

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Mortgages & Lending

You Sure You Want to Sell To An FHA Buyer?

by Ken Corsini March 13, 2013

Chances are, if you are fixing and flipping properties on the retail market today, you have sold properties to FHA buyers. Interestingly, almost 25% of all purchase loans last quarter were FHA loans. I know in my market, it seems like almost every offer I get on a retail project comes from a buyer attempting [...]

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Mortgages & Lending

Private Lending: Pros and Cons

by Ken Corsini October 3, 2012

One of my investors called me up today and told me he had decided he was ready to get into the lending business. He had already purchased a number of properties over the last year or so and was ready to diversify his real estate investing strategy. Part of his decision making process had to [...]

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Mortgages & Lending

Welcome to the Big Leagues of Borrowing

by Steve Cook September 19, 2012

If any doubts remain that real estate investors and single family rentals have hit the big time, check out a bulletin issued last week by the Office of the Comptroller of the Currency, the agency that regulates all federally chartered banks and thrifts. Just to make sure that lenders get the message, the OCC served [...]

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Mortgages & Lending

1st is Good But Who’s on 2nd?!? Hopefully it’s YOU!!

by Kevin Kaczmarek September 5, 2012

Until this post I have only talked about 1st position notes. From a control standpoint, they are the best investment — you have the right to foreclose on the property. That means you essentially have the right to control the asset and your ownership of the note is the highest priority. Now, consider this: Some investors like the [...]

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Mortgages & Lending

Banks will not lend! What to Do With Balloon Payments

by Kevin Kaczmarek August 10, 2011

Yesterday was another roller coaster ride on Wall Street and outside of your mutual funds, stock and bonds, what happened yesterday has a major impact on your real estate business. For months now we have been talking about buying and selling properties with seller financing. There was one particular article that now has a greater [...]

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Mortgages & Lending

Welcome to the High-Risk Pool: Evolving Down-Payment Rules Could Send Borrower Costs Soaring

by Chris Birk January 20, 2011

Thirty could be the new twenty. Unfortunately, we’re talking about down payments instead of states of mind. If the nation’s biggest mortgage lender gets its way, a 30-percent down payment would become the standard for the safest and most prized home loans on the market. That could make home purchases and even some refinances more [...]

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Mortgages & Lending

Utah Courts Grant Home Owners ‘Get Outa Jail Free’ Card In Foreclosure Mess

by Jeff Brown January 18, 2011

Short and sweet today, as I’m pretending I’m an employee enjoying the three day weekend like everyone else. A court in Utah has now ordered any record of loans previously recorded on a few homes to be eliminated. Put more plainly, the order left the home owners with their homes magically made debt free. Why [...]

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Mortgages & Lending

Buying Notes at a Discount: Perfect for Real Estate Investors with Cash

by Jeff Brown January 4, 2011

Sunday was fun, as some of us at BiggerPockets enjoyed lunch together in Hollywood. It was cool talkin’ with investors — beginners up to battle scarred vets. One of them, an incredibly intelligent guy, was using as one of his strategies, what I’ve had clients do (me too) in markets like we’re currently experiencing. What’s [...]

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Mortgages & Lending

Government Assistance to Investors, Interest Rates Spike, Purchase Activity Up

by Ryan Hinricher December 13, 2010

Is the housing market turning a corner? Indicators show that not even the spiking interest rates are slowing the recovery. Also the government is considering programs geared towards assisting investors, and one bank is resuming 16,000 foreclosures. Government to Consider Helping Investors Real Estate Reporter for CNBC, Diana Olick discussed this week the potential for [...]

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Mortgages & Lending

An Interview with Bruce Norris, CEO of The Norris Group: Hard Choices About Hard Money Loans

by Ronald Sklar November 21, 2010

“We tell people to get out of deals every month,” says Bruce Norris, CEO of the California-based Norris Group, which brokers hard-money investment loans as well as valuable information to investors. Even though Norris’ company extends millions of dollars in hard-money loans, they are even more concerned about not lending; put another way, they are [...]

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Mortgages & Lending

Identity of Interest Transactions When Getting An FHA Loan

by Justin McHood October 12, 2010

Thinking about buying a home from someone you are related to or do business with? FHA will allow FHA financing on the property, but under certain circumstances and with some modifications to typical FHA rules. Generally speaking, if you are buying a home from someone you do business with or are related to, FHA will [...]

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Mortgages & Lending

FHA Case Number Transfers

by Justin McHood October 5, 2010

From time to time, when you are working with a lender to get an FHA loan, a reason arises that you decide you want to work with another lender. The reason that you decide to work with a different FHA lender once you have started the loan process isn’t all that important, but what happens [...]

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Mortgages & Lending

Booming Military Towns Present an Real Estate Opportunity

by Chris Birk August 19, 2010

Military communities are booming nationwide, according to a fascinating analysis by USA Today. Eighty percent of the country’s 20 fastest-growing metro areas in terms of per-capita income have a military base or are near one. The staggering growth in these places represents an burgeoning opportunity for real estate and mortgage folks. As a demographic, military [...]

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Mortgages & Lending

Fannie Mae Outlaws Appraisal Cutting

by Justin McHood July 27, 2010

I didn’t realize that underwriters cutting appraisals was still a problem. I mean, I remember it being a big deal when it seemed that everyone I knew wanted to refinance and take their equity out to spend on whatever they wanted. But I thought those days were long gone. Turns out maybe not. It must [...]

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