All Forum Posts by: Dawn Maust

Selling my BPCON 2023 ticket. So wish I could go, but some things came up unexpectedly and just can't make it.

$950 - the pro discounted price.

Let me know!

@Kyle Deutschmann

It would be a second home.

Does anyone know of a lender who will work with us on getting a jumbo loan with 10% down. It is on Emerald Coast in FL. Price is 1.3M and would love to only put 10% down. A previous agent (3 years ago, in Oregon) talked about "a second mortgage that we can combine with either a jumbo or conforming first mortgage for aggregate financing of 90%." Does anyone still do this? We could definitely afford that. Or even a simple jumbo loan w/ only 10% down. We have excellent credit and a low DTI. I really don't want to have to go through the process of getting a loan from the equity in my business because of time and cash required for a commercial appraisal. Any ideas? We are going to make an offer with owner financing but because there are probably going to be many offers on this listing, want to have another option for them to consider. Thanks in advance for any input/advice.

One thing we’ve learned in our research is that you can’t do 10% down on just anything. Two major hiccups, at least , 

1.  Jumbo loans, if you are going big, then according to many lenders we’ve talked to and a quote from the Consumer Financial Protection Bureau “In general the loan limits are $726,200, although they go as high as $1,089,300 in some high-cost counties in continental United States and Puerto Rico, and higher still in Alaska, Hawaii, Guam, and the U.S. Virgin Islands.

Mortgage loans are allowed to exceed these loan limits. Larger loans are called jumbo mortgages. The cost of obtaining a jumbo mortgage may be higher than the cost of obtaining a conforming mortgage. We’ve been told that we need to have 20% down and interest rate will be about 2% higher.

 2. Condotels - these are non warrantable so check with your lender. Again, the down payment may be upwards of 30% and interest rate will be higher. 

Anyone know a lender that will loan on a jumbo loan with 10% down and excellent credit? We own a business and have plenty of cash flow to get into a property that puts us into a jumbo loan range but don’t want to put the full 20-30% down. We are looking at the Emerald Coast in Florida. 

Looking for 2 tickets. :>)

We are interested in attending, also. Couldn't purchase earlier because we weren't sure we could attend. Anyone have 2 tickets available?

What would be a reasonable amount to expect in reserve account? Assume it’s based on location and size of complex in addition to amenities, etc. With so many factors, is there a good way to analyze that?

We are too!