All Forum Posts by: Eric Miller

Great stuff, thank you for this write up! 

Been a lot pickier on deals as of late.

Good stuff! Thanks

Great place to start your investment journey. I have some rock star Realtor connections out there if you need any recommendations. Enjoy!

I'm not too sure what your specifics are but have you tried applying and seeing what you can get? FHA loans you can go as low as 580 FICO for credit.

Morning. I sent the scenario to one of my lenders who does a lot of unique scenarios for VA deals. This was the response from the underwriting desk. Let me know if this helps at all.

a. Eligibility Considerations A property that has both a residential and business use may be eligible for loan guaranty if: • the property is primarily for residential use, • the non-residential use does not impair the residential character, • the property contains no more than one business unit, and • the property is legally permitted and conforms to current zoning, or is a legal, non-conforming use that is accepted by the local authority. b. No Value to Business or Commercial Property No value may be given to the business operations or commercial fixtures in the appraisal.

The did come down about .5% yesterday. 

I have had a few similar clients with this same scenario and the file moved through perfectly fine. Everyone here has made great points. Just remember, if you find an underwriter that does have an issue, there's 1000's of other lenders in this country that can do a FHA loan.

I youtubed this question and I saw video explaining that if you get your friends/family to find the bad review and have them report it for being inaccurate or dishonest (whatever the truth is) and if you get over 5 people (more is better) to do it Google may review it. The youtube comments said it worked. 

It will be tough to use that side job income on a loan application . Most loan programs require you you work two jobs at for at least two years to be able to use that income. Your best bet is to use that side job income and put it towards a larger nonpayment if you want to increase your pre-approval amount.