All Forum Posts by: Ham Merritt

Lightly used dryer, fridge, and dishwasher for sale. 

Dryer-$250.00-RED-MAYTAG

Dishwasher-$150-BLACK-GE

Fridge-$400-BRUSHED FINISH-NOT SS-GE

Package Deal-$700

Must be picked up prior to the end of the weekend

We recently purchased a home in Brookfield and have no use for the dryer, fridge, or dishwasher that was left behind by the previous owner.

The appliances are currently located in Brookfield, WI

Message me if your interested.

Thanks!Less

@George Brooks I just sent you a PM.

@Saeid Safarmehdi Non-QM has a foriegn national product that might work for you. Non-QM is wholesale. You would need to connect with a lender that has access to the non-qm wholesale product. I will PM you. 

@Adam Craig Try a broker. Have you been down that road yet? My wife and I are doing a flip right now. I found a broker here locally that requires us to hold the loan for minimum 120 days. It's not 3 months but better than 6. We went Freddie and I believe my broker did say that through Fannie he has access to product that does not require any type of seasoning. You might consider calling on brokers to see if they have any options available for you. 

@Account Closed What specific snag are you running into?

@Jeremy Trad Thanks for the mention. I appreciate it. @Kay Mays welcome back. There is a lot of good information here on the site as well as locally right here in Milwaukee. Best of luck to you. 

@Eric Matuszewski it's never too early to start conversing with a lender. I would encourage you to make the call to get some things rolling for you. 

@Josiah Kay Non-QM does not have DTI restrictions. I will PM you.

@Eric Matuszewski There are advantages to one over the other however, it just depends on your overall situation as well as your plan both short term and long term. This is one of the reasons why I believe teaming up with a mortgage banker over a bank or credit union is more beneficial to investors and consumers. Mortgage bankers will consult you based on your overall long term financial goals. We do not treat transactions as one and done. Our clients are for life just like your financial planner, dentist, doctor, insurance agent, attorney, etc... We also have access to many more products than that of your bank or credit union with minimal overlays. By law, we carry a license to originate mortgage loans. Loan officers @ banks and credit unions are not licensed, they are just registered with the NMLS. So they have an NMLS number appearing to be licensed however, they are not required to be. In order to carry a license we have to train, take classes, pass an exam, and do continuing education on an annual basis in order to maintain the license so we can originate. This being said, we are far more educated and trained to consult you over a bank or credit union. That is my long answer to your question. Here is my short answer...I would recommend letting your loan officer consult you on which product is specifically the best fit for you based on what it is you are looking to accomplish both short term and long term.

@Eric Matuszewski with convention lending on an owner occupied purchase, you can go as low as 0% down. With the investment purchase being owner occupied, I would think that conventional lending is your best option. I would recommend keeping it under 5 units for your first deal. As mentioned previously, anything over 5 units is considered commercial so conventional financing will not work. I would not recommend a cash purchase if you are able. Thee is no reason to tie up the cash if you plan to invest in other real estate. The cash out refinance will not give you all of the cash back, 75% of it only. PMI will be based on your credit score, amount you put down, and the overall debt to income ratio. For government loans, this is typically lower however, you would have to pay a premium up front and carry the insurance for life. If you have a good credit score, the PMI on a conventional loan is typically pretty low as well. Especially if you put a lot down initially.