All Forum Posts by: John H.

I will occupy the unit for at least the first year. No reason not to get the best rates possible etc. This is a must for me. Plus it will be cheaper than our current rent (paying rent to ourselves-the rate is still lower).

Thank you very much. Both my lenders told me I needed 25% down (Quicken and USAA). So, would a conventional loan fall under this category? Thanks for the response. I will look on homepath.com.

Where can I find loans for multi family units at 5-10% down? I'm a first time invester with good credit and have a 4-plex I would really like to make on offer on...

Thank you Kim. That is kinda what I was thinking... Anyone to the contrary?

When it comes to renting... is a pool an asset or liability when it comes to purchasing a rental home in Phoenix. Anyone with experience with this or any opinions on this out there? Thanks!

Excelent. Thank you very much for your response!

***I MEAN INCREASE ABILITY TO BORROW***

I am still in school but on a good scholarship program. The scholarship would be well enough to help pay for a very small house (80-100k). The banks like to see non scholarhip money. My dad said he would be willing to cosign with his very financially prudent son.

I could wait a little while longer untill I am out of school and making income myself OR I could view this as a great opportunity to decrease my liability (on paper) while having 100% of the benifit.

If I were to co-sign would it decrease my debt ratio for so that I could more easily obtain more home loans in the future? Spreading the debt allow me to purchase more homes with my debt? (not sure if I used those terms correctly)

oK. Sounds good... for conventional loans... are there fixed rules... in other words.. when one place says no... does that apply to everyone?

I am a 3rd year medical student with a special military program called HPSP. The military pays for my schooling plus $2,100/month living expenses for me to go to school. I have been wanting to get a home loan for some time but all the lenders say that my "stipend" of $2,100 doesn't count as income. My wife will get a job this summer... so maybe I can see if that will count as income... but I would really like to get into a multi family home for this next year so I can live in it for a year before changing cities and going to residency (which will have a larger and more authentic income).

I was looking at really inexpensive homes in this area (Phoenix) which are 30-40k but have recently been looking at quadraplexes... (no-one wants to finance so 30-40k). A lot more expensive (170k) but great potential. I am positive about my ability to pay but it doesn't look good on paper with my stipend. Great credit. Most my savings goes into my IRA (25k). Any ideas?