All Forum Posts by: Elise Marquette

@Mark Futalan I’d be glad to!

@Mark Futalan yes, we are licensed in 48 states including CA

@Mark Futalan sounds like it should be fine but of course I can’t give an exact answer without knowing more about the deal

@Robert Ross definitely anything is better than 8% interest on a Conventional loan!

@Nathan Weber yes, SFH is 75% LTV and 2-4 unit is 70% LTV

@Annie Nui she is with First National Title. I use her for all my deals

You will very likely need to be on the deed to refinance. That may depend on state laws. It would not be a purchase- hypothetically you could get added to the deed (there may be a 6 month waiting period) and then refinance it as an owner occupied with you on the mortgage. Conventional loans allow for you to have a mortgage in your name for elderly parents and declare it as owner occupied. Generally you cannot use the equity as down payment

What do you mean by all in one loan? Like a blanket loan?

Second home requirements are the same across the country if you're using a Conventional loan. There's not really a distance requirement, it just has to make sense in underwriting. Second homes are 10% down and you must intend to occupy it at least part of the year. Usually a 620 minimum credit score is required with about 3 months of mortgage payments in reserves

Have you settled on a niche where you want to focus your time and energies? That's probably the first step. From there, I usually recommend speaking with a lender to determine exactly how much you can purchase and seeing what loan products best fit your goals