All Forum Posts by: Frank Preciado

You can exclude the payment by you need to make sure you structure it correctly. Send me a DM to discuss options in order to get this done.

Hi Jessica, please reach out to me so we can review your scenario and we can see what options we come up with.

If you have a conventional loan, below would be the rules that apply:

the LTV ratio must be

• 75% or less, if the seasoning of the mortgage loan is between two and five years.
• 80% or less, if the seasoning of the mortgage loan is greater than five years.

If Fannie Mae's minimum two-year seasoning requirement is waived because the property improvements made by the borrower increased the property value, the LTV ratio must be 80% or less.

Adam, given your limited initial capital, I would recommend starting with a house hack. As active duty military member you can use your VA mortgage benefits to purchase your first home with no down payment required. In order to use the VA loan you will need to occupy the home as your primary residence for at least the first 12 months. Once you have this purchase under your belt, it should give you the confidence and experience to add to your RE portfolio.

I would definitely shop this around with other lenders. The market has changed compared to 2021 because there is no longer a loose money policy. But 2 origination points does seem excessive. Most transactions I am seeing that include discount being paid range from .50-1.00 on the high end. Good luck!

Two suggestions for you:

Find out exactly what the issue is and work with a lender that will give you a game plan on what you need to do to remedy the problem. I always say, financing a property is like running a marathon, some people are ready today, so in two weeks, others might take 6 months. But you need your lender to act as your trainer to get you into shape!

Second, look at various loan products. If conventional lending does not work, look into DSCR or hard money. If the deal makes sense and you have the capital to get skin in the game, you will find financing!

It's all about having the right lender as a partner!

Make sure to shop around if you decide to go DSCR, there are ones that specialize on higher end investors (credit/financials) that can give you rates similar to conv with no prepay.

If you are using conventional financing, that should not be an issue. You can have only one person on the loan but both be on title. How many financed properties are you and your partner currently at?

HI Kyle, my team is here and ready to help you with your real estate investment needs. We works with clients looking to purchase homes for investment throughout the whole US. Please give me a call and I can help you get qualified for a purchase with FHA and review other options that may be available.

Hi Eric, once you have 12 months under your belt as a traveling nurse, we can do your loan with FHA, without the need of a non-occupying coborrower. Please reach out to me so I can confirm all the details.