All Forum Posts by: Harjeet Bhatti

@Randy Pang The lender will calculate  Sch. E income from 2018 and 2019 tax return. You can use Fannie Mae worksheet to calculate right income.  Both calculations are wrong and without looking at  Such. E income no one can calculate right income.  

@Tramaine Robinson 25% down payment is required for 2-4 units under conventional loan for investment property. 

@Ryan Mainwaring 70%LTV is max under Fannie Mae guidelines for 2-4 units. You can cash out 75%LTV for SFR after 6 month of purchase.

@Ryan Mainwaring According to guidelines you can cash out 70% of appraisal value under conventional loan. It's still avilable under Fannie mae guidelines.

@Maggie Carver Most of the banks and credit unions do not have lower loan amount restrictions. 

@Scott Morgan Under conventional guidelines both properties can't be closed under one file. The above mention guidelines are standard in mortgage industry. 

@Kyle Nield No waiting period if its rate and term refinance. You have to wait 6 month if its cash out. 

@Kyle Nield You can use any bank who can lend in that State. You have to know how much you will be eligible for so you don't face problem for refinancing the loan. You should start working before you take a project in your hand. As long you are doing rate and term refinancing you can refinance any time but if you want to cash out you need to wait 6 month under conventional loan. 

@Mykhail Bolden If its investment 25% down payment for 2-4 units. If its primary home 5% down payment under home possible. Nothing change in conventional loan so far due to pandemic. Simply follow the guidelines of Fannie and Freddie. 

@Mia G. Home Possible is Freddie Mac product. It is  income and area restricted. If you qualified under their income guidleins this is great product.