All Forum Posts by: Elise Marquette

@Julie DeWolfe Arroyo something smells fishy about that. It takes ten seconds to click the button to send out the automated email to client.

@Julie DeWolfe Arroyo what was the reason the appraisal wasn’t ordered immediately after contract was signed??

@Derek Peterson correct! This is a very recent change within the last two months or so

Yes, you can have up to two financed properties via Home Possible. They did just change their guidelines and you can no longer purchase a 2-4 unit with 3% down though. Both Fannie and Freddie increased it to 15% down. You can still purchase FHA for 3.5% down.

Something doesn't sound right. Can you give more a little more detail about what you're trying to get approved to do?

@Jeff Shumway Can you assist?

If there were low hanging fruits of real estate there would be a lot more people working in real estate. My favorite thing about working in real estate is that I get paid what I'm worth- if I decide to not produce then I don't get paid. If I produce and add value, then I get paid. It's about as raw and fair as the economics of fair wages gets. 

@Justin Coleman Since you're moving more than 100 miles away from your home in Milwaukee you can buy your next home FHA and you do not need to refinance into a conventional loan. You are probably looking 3.5% to 5% down for your next home in Texas. You will need to income to qualify to support the mortgage on your Milwaukee home and the home you intend on purchasing. How much you qualify for depends on how much you make and what percentage of your gross monthly income all your monthly liabilities take up.

@Darien Terrell but yes you can refinance into an investor type LLC loan then

@Darien Terrell sounds like you would be best off to refinance it into an investor type loan after living in it for a year