All Forum Posts by: Anna Mecagni

The insanity in the home insurance market is the canary in the coal mine. Things are going to deteriorate. This is not just a CA FL thing as many want to believe and not limited to the coast. NY times did an expose on insurance company losses that should make you worry. https://www.nytimes.com/interactive/2024/05/13/climate/home-...

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I'm a US Citizen that's been living in Mexico for 3 years. All of my income is from the US, and I easily qualify for a conventional mortgage. The problem is that I don't have a US address for which I can verify residence. Current lender tells me that per Fannie Mae rules I am ineligible for a conventional mortgage. Can this possibly be true?

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Good data point. Cash-out rates are higher though.

Originally posted by @Ladd Brunner:

@Anna Mecagni

Seems a bit high but depends on DTI and credit. We went 80% ltv and closed on our 4-plex a few months ago at 3.625% for 30 year fixed. We did buy it down but will get that $ back in less than two years and we're in it for the long haul. We do have decent w2 income and 770-800 credit.

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Originally posted by @Erica Larence-Penna:

@Anna Mecagni reach out to @Elise Marquette. She may be able to help!

Looks like she is only licensed in Fl? I am in AZ.

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Originally posted by @Travis Heppe:

Are these commercial, portfolio, or conventional? I just did a commercial loan that closed last Friday: 3.70% interest, 80% LTV, 30 year amortization, 12 year fixed. Seems like you ought to be able to do a little better.

Thanks, Travis. Can you share lender info?

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I have 4plexes in Mesa, AZ and am interested in taking advantage of these rock-bottom mortgage rates, to pull cash out and expand. Unfortunately, I'm finding it difficult to find lenders interested in this, and terms that are less advantageous than I would have expected. The best I've found is a 15-year loan at 4.1% (loan amount $240,000, or 65% of value) with about $6,000 in points and fees.

Others finding similar? Any tips?

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All Forum Posts by: Anna Mecagni

Anna Mecagni has started 2 posts and replied 6 times.

Post: Anyone Investing Based on Climate Change?

Post: AZ Lender needed for borrower with foreign address

Post: Cash-out refi options for 4plexes

Post: Cash-out refi options for 4plexes

Post: Cash-out refi options for 4plexes

Post: Cash-out refi options for 4plexes