All Forum Posts by: Dave Skow

@Franklin Graves- thanks ...try  locating the  funds needed  from  other sources ....401K loan ?  family loan ?  savings ?   credit cards ?  etc....

@Hitanshu Shah-congrats...assuming the 4 plex will be a rental - your best bet will be 25% down and likely a 30 yr fixed program ....if you plan to sell or refinance  the loan within a few yrs - focus on the option  with the lowest loan fees 

@Aaron Gallington- you will likely be limited to one HELOC on your home.....you might try to ask present heloc lender if they can increase it or provide a larger HELOC with a higher CLTV Limit- good luck

@Arianna Farinas- thanks for the post ...I would recommend getting formally pre approved for a hypotehtical duplex purchase  using whatever figures you want to use .  This process will help get you educated / organized and prepared.  thanks 

@Allen Wu- hi there - following up...did you use the 30 yr fixed or ARM loan to close your home loan? What rate did you end up with ? Keep you eyes and ears open for refinancing options in the forthcoming year...thanks and all the best

@Brian C Kelleher- thanks for the update .  Congrats  and keep you eye  on  refinancing  options  in the  future to improve on the mortgage  terms

@LeRoi De-Souza- you are not able to use a FHA loan for a rental property purchase ....depending on the size of the property ( 1-4 units ) - you should be able to get a conventional loan ....85% ltv is possible for a 1 unit rental purchase ...get formally pre approved so you can get orgainzed and prepared

@Shaheen Ahmed- thanks - if you plan to live in one of the units - there are conventional loans that allow as little as 5% down .....or you can also use a FHA loan .....if you plan to not live in the property - the down payment will vary based on the property you buy - IF you havent already done so - get fully pre approved with a lender

 @Kevin Robert- awesome to hear - good luck out there 

 @Lawrence - thanks - yes ..I will send a message with some referals