All Forum Posts by: Erik Estrada
Erik Estrada has started 182 posts and replied 4621 times.
Post: Favorite Lenders in Montana?
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
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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
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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
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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
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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
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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
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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.
Post: DSCR Loans for Manufactured Homes (RURAL OKAY)
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
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We are one of the few to offer this specialized loan. Please feel free to reach out and connect!
Post: DSCR Loans Starting at 6.125% and No Origination Options Available
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
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Please reach out for a quote!
Post: Buy fix and flip
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
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Quote from @Taran Sergiu:
@Erik Estrada I am specifically looking for a lender who would be willing to work with a new flipper, if you guys have any suggestions of lenders who would be open to doing that?
There are several that can! Just anticipate 15-20% down if you are going at it without any partners with experience
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
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I think this has happened to a lot of us.. I am curious to know how most Brokers handle this? Is it a total loss? Do you create a broker-agreement before you work with a client?