All Forum Posts by: Diana Muresan

@Chan K. very few lenders have the license for Freddie commercial, it’s not easy to get it... no blanket loan on this program, not that I am aware of. I am not an expert in Freddie 5-75 units, but I do have the program, I do a few 2-4 units per month and a commercial one here and there. I don’t actively pursue that market, if someone reaches out to me then I will do it. 

@Sam Nadar what about a regular conventional refi and do another FHA on your next one? As long as it looks credible

@Sam Nadar what about a regular conventional refi and do another FHA on your next one? As long as it looks credible to show as owner occupied

@Jeff Metzger I can help you with financing question 

@Cliff Kelley I am a rare breed of mortgage bankers that does residential loans for foreign nationals that purchase in US  and I cover all states. I also attend international real estate conventions where I network and I learn a lot on what’s going on at macro level. I went to IREC in Vietnam in September, I was the only banker there, lots or realtors from around the world. Heading to Japan this year. FL has about 50,000 foreign national transactions per year, most of them are in Miami-Ft Lauderdale area, followed by Tampa and Naples, hard for someone to tell you where to go and get the Chinese. Shanghai and Senzen has big real estate conventions with 20,000 attendees, why don’t you try? The biggest one is in Cannes in the spring but the registration is super expensive, you don’t neee to start there. I speak a few languages, I travel 3 months per year and I connect easily with people from all cultures, working with foreign investors it’s a very different experience, first you need to make sure it’s your cup of tea. 

@Akeem Moreno have you been self employed for over 5 years? If so you could use just one 1 year of tax returns. 2/3 of my clients are self employed and couple of dozens are waiting to file for 2018 since they deducted too much in previous year. 

Make sure a banker sees your drafts before you file in case you file before you purchase a house, we use net income and not gross on self employed borrowers. 

Back to your house hunting, sky are the limits really, just kidding, anyway, being a 1st time buyer you have a few options. Not sure if that area has MF (multifamily) properties, I close most of the MF in metropolitan areas and in some states more than others. Get a pre-approval for both, MF and just 1 unit and start from there. If you decide to go for MF, I suggest you pair with a realtor that has experience with MF, just be straight forward and ask how many MF has he or she closed in the last 12 months

@Jeff Mills

 It can be done as a refi or purchase but not just for renovation costs, but for the whole loan

@Alex Nelson gotcha. I thought it had to do with the IRS transcripts 

@Mack Bailey first see if you can qualify for HomePossible with 5% down, FHA has also an upfront mortgage ins of 1.75% of the loan amount that gets rolled in though ideally is to get your 1st MF with FHA and second with Freddie since FHA doesn't allow use of rental income on other properties you own within a 100 miles radius. On the other hand, if you get the FHA one first then when you get the second MF on HomePossible they will add the rental income from the first MF and more likely you will be over the income limit which is 85% of your county median or 100% in low census

@Brendan H. PM me for a quote