All Forum Posts by: Erik Estrada
Erik Estrada has started 179 posts and replied 4615 times.
Post: Is Creative Financing Becoming the New Normal?
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
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I don't think it has too do so much with the rate, and more so to do with the value-add of the deal.
What you are seeing now is appraisal's coming in lower in some markets, properties sitting a bit longer than what we are normally used to. However even with an 8% rate there are still deals that can cash flow or can be flipped for a profit. Albeit it will be much harder to find and will involve more legwork than finding deals only on the MLS.
Post: Mobile home park financing
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
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Hi Joe,
Hope all is well
Are you looking for a lender to finance the entire park or the mobile home itself? Is the mobile home classified as real property or personal property?
Post: Préstamos Para Renovación
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
- Posts 4,793
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Compra, renueva y alquila/vende propiedades no ocupadas por el propietario con 1 a 4 unidades
- Préstamos desde: $50,000 - $3,000,000
- Financiamiento de hasta:
◦ 100% del precio de compra
◦ 100% de los costos de renovación
◦ 75% ARLTV - Renovaciones extensas permitidas
- Plazos de 12 a 18 meses
- Recurso total
- Extranjeros calificados
Post: Fix & Flip Loans Made Simple!
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
- Posts 4,793
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urn your next project into profit with fast, flexible funding designed for real estate investors.
✨ Program Highlights:
✅ Loan amounts from $50K – $3MM
✅ Up to 100% purchase price + 100% rehab costs
✅ Up to 75% ARLTV
✅ Extensive rehab allowed
✅ 12–18 month terms
✅ Full Recourse
✅ Foreign Nationals Eligible
⚡ Now Offering Snap Draws DIY for quicker project reimbursements!
Post: Favorite Lenders in Montana?
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
- Posts 4,793
- Votes 1,458
Quote from @Jenny Milu:
Looking for a new lender, we are looking at investment properties as well as turning our primary into a rental and getting a new primary
Happy to connect
Post: Am I ready to refinance and buy my next rental?
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
- Posts 4,793
- Votes 1,458
Quote from @Jacob Bremer:
Hello all,
Two years ago I purchased a SFH for 210K. Renovated for 35K. Have it rented out for 1900/mo since then. My monthly payment is $1550/mo. We have about 5K in reserves. My current interest rate is 7.4.
There is another home that would be nearly an identical rinse and repeat in the neighborhood. I would purchase for around 220k. From my lender estimates, they would give me roughly 6.5 on the refi but taking another 70K for DP and reno for the 2nd home would put my monthly at around 1800/mo.
If these numbers are accurate, would pursuing it be too aggressive given the small delta between the new potential monthly payment and current rent?
What's the ARV of the new home and will you be financing the purchase and renovations?
Post: recommended local lenders in greater Montco, PA?
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
- Posts 4,793
- Votes 1,458
Quote from @Clayton Silva:
Quote from @Erik Estrada:
Quote from @Sandra May:
is anyone willing to share their go-to banks/lenders in this area? My first and third door are here, looking to get a HELOC on one to do some value-ads to the other :)
Have you tried Figure? I have heard they have some very aggressive programs
Figure has some of the highest rates in the HELOC market. They only allow a 3 year draw. Honestly, Figure is a very convenient option for people who need funds in 96 hours or less, but there are quite a few HELOC options that are 1-2% lower rate with 5-10 year draw periods out there. Just depends on the client goals, but I am not sure I would consider anything Figure does as aggressive relative to the rest of the market.
Good to hear a solid opinion. I only heard of them since a lot of my clients use them for HELOCs. I don't originate any HELOCs, so I would not have a clue what they offer.
Post: Fix & Flip Loans Made Simple!
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
- Posts 4,793
- Votes 1,458
Turn your next project into profit with fast, flexible funding designed for real estate investors.
✨ Program Highlights:
✅ Loan amounts from $50K – $3MM
✅ Up to 100% purchase price + 100% rehab costs
✅ Up to 75% ARLTV
✅ Extensive rehab allowed
✅ 12–18 month terms
✅ Full Recourse
✅ Foreign Nationals Eligible
⚡ Now Offering Snap Draws DIY for quicker project reimbursements!
Post: Invest In Manufactured Homes With Ease!
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
- Posts 4,793
- Votes 1,458
Looking to purchase or refinance a rental property?
We make it simple to get the financing you need.
✅ Loan Amounts starting at $100K
✅ Up to 70% LTV on Purchases
✅ 65% LTV Cash-Out Refinance
✅ 30-Year Loan Terms (Fixed Rate, Interest-Only, & ARM options)
✅ No Tax Returns Needed
✅ Minimum Credit Score: 660
🏡 Property Types: Single-Wide & Double-Wide Homes
📈 Perfect for non-owner occupied rental properties (1–4 units)
Post: Brokers, what do you do if a borrower goes retail with the same lender you quoted?
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
- Posts 4,793
- Votes 1,458
Quote from @Brandon Croucier:
Why is the lender allowing this to take place? They clearly do not value their broker relationships.
There are alot of lenders that do this... CV3, Kiavi, Visio, Easy Street, just to name a few. They follow a whoever gets them in first model.
It's the wholesale only lenders that typically do not allow this.