All Forum Posts by: Bryan Rodas

I am trying to understand construction loan, my sister has a house with a big lot. She wants to build another house, and rent it. However, she has a mortgage on the whole house. I was wondering if is there a way where we can have a lien release on the lot, or if she builds the house on lot with a mortgage, it is not going to affect anything since she is not selling the house. Can somebody please help me finding a way to do it? Thank you

@Jason Wray

Any idea on how to find those banks? I am located in New Jersey. Any recommendation would be helpful? I tried to Google them but I couldn't find any.

@Bryan Rodas

With delegated authority*

@Jason Wray

Thank you from your answer. Can you please exemplify or elaborate the meaning of "a bank with no delegated authority and overlays"? I don't understand that very well,and what kind of banks do that?

Hello! I am 22 yo, and I made 30k this year. This is my first tax return. I am trying to buy a house thus year, using a fha 203k. However, I am worrying if maybe I'm not going to be able to get it since this is my first time filing taxes. I have 0 debt. I don't pay rent, or anything. My credit is 730. Please lenders or mortgage brokers. Can I qualify for a mortgage or no?

@Bryan Rodas also, my best to income ratio is 0. I don't have any debt, and my credit score 740.

Hello! I am trying to qualify for a mortgage. This year I made 35k of income. I am trying to get my first property using an fha 203k, I want to fix the property to create instant equity. However, since this is my first year doing taxes. Am I able to qualify for a mortgage?

Hello! My grandpa wants to invest with me. However, he has $50000 credit card debt. His house is is 94% paid off, and he is a veteran with a va loan that hasn't be used. He wants to invest in properties. We want to use the va loan (or va rehab loan) to fix a house, and then sell it or find creative ways to take full advantage of the va loan. Based on your knowledge, is there any creative strategies that I can use to maximize profit? What would you do if you were me? Is there little inconvenients that I'm not being aware of?