US taxes get filed every year, but no W2s - all income is foreign.
US credit is excellent.
I have one SFH and want to buy more for buy-and-hold.
One lender has gone AWOL for a month after I submitted conventional income docs - they simply stopped responding to emails, texts, and calls. Is this unusual?
A hard-money lender is offering a line of credit of 500k with 2 points to be paid up front for the line, another 3 points for actual draws on the line for purchases at 9.75%, and another 1 point for each refi, currently at 3.5%.
Do I need a hard money lender? How do those terms compare with what's out there?
Is there a different kind of lender and loan I should be looking at?
Yes, Timothy. My current SFH is at 5%, and if I go the model of hard money, then I will need to refi the houses I buy through that line. The lender, as I said, says they can do them at 3.5 with a point.
I hope it's okay to bump the thread. I really would like people's thoughts on these questions:
One lender has gone AWOL for a month after I submitted conventional income docs - they simply stopped responding to emails, texts, and calls. Is this unusual?
A hard-money lender is offering a line of credit of 500k with 2 points to be paid up front for the line, another 3 points for actual draws on the line for purchases at 9.75%, and another 1 point for each refi, currently at 3.5%.
Do I need a hard money lender? How do those terms compare with what's out there?
Is there a different kind of lender and loan I should be looking at?