All Forum Posts by: Dan Green

Hey everyone. Looking for recommendations on where to go to get an FHA 203k loan.

Hey everyone. This is kind of a 2 parter.

I'm looking to do a HELOC on my current home in hopes of using some or all of it towards the down payment of my hopefully soon to be 2nd home. It's a 4 family that I plan on living in 1 unit while renting out the other 3. I figure the property is a full gut/rehab. I just need some guidance on where to start. I currently have a mortgage lender/broker that's supposedly giving me incorrect advice for financing based on what he's determined my debt to income ratio to be (102%).

I'm also looking to refinance the property as an owner occupied residential loan once everything's fixed & rented out.

Any help would be greatly appreciated. Thank you.

@Alex Haiek East Hartford, CT. 4 family that I believe needs a full gut/rehab. Definitely a rental. I'd love to hear what you have to offer.

@Michael Glist I'll reach out sometime this afternoon. Thank you

@Shaun Weekes that's great information too, thank you. I will address that with him. If he doesn't/can't/won't, then I'll definitely go with someone else

@Michael Glist that's a great option, thank you. Do you have any recommendations of who to go to for a DSCR loan?

Hey everyone. I'm running into a hurtle I was hoping someone could help me with.

I'm using a broker/lender referred to me by my realtor. He's trying to get me a hard money loan, then I want to BRRRR the house. After submitting my information, he's telling me that he can't get me approved for the hard money loan or exit strategy of a refinance because my debt to income ratio is 102%. After digging deeper, we determined that the depreciation is what's holding me back. How do I get around this hurtle and continue with getting this property? Please help. Thank you.