All Forum Posts by: Brandon Croucier
Brandon Croucier has started 2 posts and replied 626 times.
Post: When an ARM Isn’t What It Seems: $21,000 Surprise in My 10/30-Year Interest-Only Loan
- Lender
- Nashville, TN
- Posts 687
- Votes 279
Quote from @Andrew Zee:
Patrick, thanks for weighing in, but your take feels like you’re blaming me for breaking your window.
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The Term Sheet never said “interest-only.” It said "ARM."
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My actual payment is $1,145/month (interest + escrow). That’s the number I budgeted.
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I’ve run the numbers: if I add $900/year toward principal, I’ll pay this off in 25 years, exactly as expected for a 30-year loan with that extra.
The core issue is the lender didn’t disclose the IO feature on the Term Sheet. I’m looking for practical advice on how to resolve this—whether it’s pushing the lender to amend the structure or negotiating a modification—so I can get the loan I thought I was signing. Any thoughts?
I mean this is getting out of hand, can you read?
You cant get your cake and eat it too. If this is the number you budgeted, then great.
Most likely your broker offered you a 30 year fixed, PITI and you said "that payments too high" so he presented you with this and you agreed.
Optimum 10/1 IO ARM (10 Year IO Period)
States it pretty clear this is a 10/1 ARM with a 10 year Interest Only Period.
Post: What do you do when a client tries to cut your commission before closing?
- Lender
- Nashville, TN
- Posts 687
- Votes 279
Some borrowers just have no respect for the work we put in.
I've had borrowers double lap me, claim to have "found a buyer last minute" and find out 2 days before COE they're not using me... LOL
Post: How to buy a small shopping center?
- Lender
- Nashville, TN
- Posts 687
- Votes 279
@Ross Kane they are very real, but honestly a vast majority of realtors are unresponsive... You have to continue to CALL if you are serious about buying
Post: When an ARM Isn’t What It Seems: $21,000 Surprise in My 10/30-Year Interest-Only Loan
- Lender
- Nashville, TN
- Posts 687
- Votes 279
Take the excess money you would pay in principal & put it into a vehicle that would yield you 7.5% or greater...
If you find another RE deal at a 10% cap rate , interest only can be a good thing, it frees up more cashflow to reinvest in better ROI vehicles.
Post: How to buy a small shopping center?
- Lender
- Nashville, TN
- Posts 687
- Votes 279
Loopnet is where commercial properties are listed
Post: Looking for local real estate lender that owns rentals to worth with
- Lender
- Nashville, TN
- Posts 687
- Votes 279
Happy to connect, I do a lot of business up in WA myself.
Specifically private money & DSCR.
Post: 📢 Investors: Are You Actively Lending Right Now? Let’s Connect and Compare Notes
- Lender
- Nashville, TN
- Posts 687
- Votes 279
I've got a few sources for short term private money.
Happy to connect & see if I can assist.
Post: What is the fastest way to compare lenders?
- Lender
- Nashville, TN
- Posts 687
- Votes 279
Why would AI be necessary?
Ask for a quote on same day with the same rate & compare fees.
If you want a few different rate options with specific terms ask & compare.
Pretty simple.
Post: Looking for lenders who allows seller carrybacks
- Lender
- Nashville, TN
- Posts 687
- Votes 279
I can do these.
Happy to connect
Post: 2nd mortgage 30 year fixed rate kingston pa
- Lender
- Nashville, TN
- Posts 687
- Votes 279
I'd go to a local credit union for a loan of this size on a primary.