All Forum Posts by: Ed Wood

You'll take a 1.75% hit on your money up front then 1.35% per year for the FHA mortgage insurance so I guess if your investments earn more than 3.10% the first year and more than 1.35% for every year after you're ahead of the game.

Keep in mind your paying this percentage on your entire loan balance so if you have a 200k loan amount and 100k invested somewhere you need to double the rate of return required so 6.20% the first year and 2.70% every year after.

Points can go both ways traditionally points are paid by the borrower to the lender for a rate chosen however there is rebate points which the lender pays the borrower for chosen rate for example

4.000% borrower pays 1 point to the lender for this rate
4.500% is a -0- point rate
5.000$ the lender pays the borrower a point for this rate

Notice in this example the lower rate at 4% the lender gets paid a point then at 4.5% neither the borrower or the lender pays a point to one another then at 5% because the borrower is taking a higher rate the lender is willing to pay the borrower 1 point.

The 5% rate in this example is how borrowers receive no point no fee loans because the rate is higher the lender will pay closing cost. Where as at the 4% rate because the rate is lower the lender needs to make extra money to do a 4% loan so the borrower pays 1 point.

Hope this helps.

Fannie/Freddie allow up to 10, however, banks and lenders have what's called "overlays" which tighten up native fannie/freddie guidelines.

There are some lenders who will follow the native fannie/freddie guidelines that allow up to 10 properties owned and financed this does not include 5+ multi family or commercial property. From 1 to 4 propeties owned and financed you can do purchase, rate and term and cash out refinaces when you reach 5-10 you can only do purchase and rate and term so no cash out. This means plan carefully. My suggestion is fill up your 9 slots with 4 unit properties and 1 primary.

Mortgage Rates Down on Tepid Housing Numbers

Home Flipping Ramps Up in 2013

convert blighted areas to farmland and it might

@Rick H. right on, have a good time, there is another great Lebanese place across from our store I'm drawing a blank it's something like Zena's on the corner of Tustin and Meats next to Sprint.

@Wayne Brooks

State laws have to do with collecting and with non-recourse states state law prohibits collecting on purchase money loans beyond what they sell the property for.

So State laws don't make the mortgage guidelines just enforce how a lender can collect on defaulted debt.

woops sorry I misunderstood the post I thought you were asking.

Account Closed

Please tell me which escrow does 50/50 on all line items I'm really interested in seeing who interprets 'escrow fee' as 50/50 for total fees paid to escrow.