All Forum Posts by: Dennis Muno

I would the cash option is good but also having cash on hand is also good. Like they say, cash is king.

Since you are looking for financing options as well as using cash to buy, I would recommend on the financing side you call up a mortgage broker in your vicinity. Mortgage brokers usually have 50+ lenders/banks they can call up to shop for financing offers for you. Usually they will be able to present you with 5+ or more financing offers for you to decide from and proceed from there. 

I would say you could start from there. Best of luck to you.

Well you could go private money, hard money, bank etc. 

I will say you could also contact a local mortgage broker near you. Mortgage brokers are usually partnered up with 50+ lenders and are able to usually to shop multiple lenders and provide you with some financing options.

I would say before you call a lender/mortgage broker/private investor, you should have a detailed plan for building, permits if necessary(check state and local regulations), people who will do the construction for you, etc. Having all these before you go to a lender will make the process smooth without a lot of back and forth.

Best of luck to you!

Well I will say no particular lender will have a particular rate. Interest rates( and the type of finance you get) are based on risk-i.e your FICO, debt to income, number of late payments in 12-24 months etc. This changed by law by congress after the previous financial crash in the 2007,2008 time period.

That being said, the best way to find the best HELOC rates would be to go shop with multiple banks and let them present you with an offer.

Or better yet, call a mortgage broker and let them shop multiple banks/lenders and present you with the best HELOC options out of the many they can contact. Mortgage brokers are usually partnered up with 50+ banks/lenders, and are able to go around, shop with multiple lenders and present you with HELOC options.

I would recommend you start there.

I would recommend you call a local mortgage broker near you. They will be able to shop multiple banks/lenders, compare offers and help you with such financing. I will recommend you start there.

I would say that for financing options, you should consider calling up a local mortgage broker near you. They will be able to shop multiple banks/lenders in your state and present you with some options for financing.

I will say start there, with regards to financing 

I would advise to keep your options open regarding financing. Consider a DSCR too- you qualify not based on personal income but based on if the monthly property rent can cover the monthly principal, interest, taxes, insurance. Usually pricing on this could be better. I would say call up a lender/mortgage broker and get loan estimates and then compare before you proceed

I would say call up a mortgage broker near you. Unlike single banks/lenders, mortgage brokers are usually partnered up with 50+ lenders, which allows them to go around shopping multiple lenders for financing bid.

This will usually give you more offers for financing and if your finances are good, you should be able to qualify for some financing. I will say start from there

Yes, I would recommend you dial up a few mortgage brokers in your neighborhood. They should be able to shop multiple lenders and get you a few options with regards to renovation loans. 

I would say start from there

I would recommend  you  contact a mortgage broker near you so they can start providing you some options. Usually the more banks/lenders with bids they can provide you, the better your options will be

I would recommend you talk to a local mortgage broker near you. Some should be able to shop multiple lenders and come up with some options for you