All Forum Posts by: Jornel Lugo

Is there mortgage insurance on seller financing if less then 20% is put down ?

By the way I live in Florida where there is no state income tax

I'm still just learning but I can't figure out if it would be better to go the llc way or the umbrella insurance way . What do you guys do ?

That's makes sense . I'm reading that's it's pretty difficult to get a loan to an llc . I guess it would make more sense to just get a loan in our name and protect it with an umbrella insurance policy ? Thanks for he help by the way .

So before I purchase a multi family home I want to start an LLC for safety and tax purposes . I'm gonna be using my wife as a co-borrower when applying for my home loan so should I include her in the llc as well ?

I'm looking to buy our (my wife and I) first multi family house within the next few months . The thing is my wife has better credit than me at the moment but I make more money and have 2 years work history . I know she can apply for the home loan and I can co-sign and have my name on the deed as well but does this affect the total amount of loans we can get down the line ? Usually a person can get 4 Fanny Mae loans and then 6 more Freddie Mack for a total of 10 before getting more creative with the loans but would this cut us down to to a total of 10 loans between the both of us or would we each still be able to get 10 loans for a total of 20 ?

Jeremy Hua Marian Smith thanks a lot !

I'm trying to build credit - should I continue monthly payments or pay off my loan? I want my credit to be a bit better before I apply for a home loan . I owe about 5k on a car loan . I know conventional and fha loans factor in dept . But they also factor in credit . Would paying off a loan so I have no dept be better ? Or would paying monthly payments be better for credit ? which that's worth more ?

I'm 21 years old working a full time job living at my moms house with my wife and kid . Studying my butt off now for the next month or so before making any moves to buy a multi family home so I can house hack.

I'm 21 years old working a full time job living at my moms house with my wife and kid . Studying my butt off now for the next month or so before making any moves to buy a multi family home so I can house hack.