All Forum Posts by: Joseph A Gonzales

I have never heard of them. What is your opinion and how did you get signed up with them.

Where are you located? I know lenders will do a second and the second will be assumable. I have completed this for many when they assume a mortgage. 

Hello, 

It does hurt when this happens. I hurts a lot in my chest when I am shopped or left because I could not provide the best option. BUT (It hurts to write this)

It’s great that you’re taking the initiative to shop around for the best rates—this is a smart move when making such a significant investment. Remember, buying a property is a financial decision that should align with your long-term goals and comfort.

If the new lender offers a better rate and lower monthly payment, it’s reasonable to consider that option. However, maintaining a good relationship with your previous lender is also valuable. Transparency can go a long way. You might approach your previous lender and explain the situation honestly but tactfully. For example:

"I deeply value the relationship we’ve built and appreciate the excellent service you’ve provided in the past. I’ve been exploring my options to ensure I make the most informed financial decision for my family. I hope you understand this is purely about what works best for my budget. I’d love to continue our connection and work with you in the future if the opportunity arises."

This approach conveys your respect and appreciation while making it clear that your decision isn’t personal—it’s practical. A professional lender should understand this. Ultimately, you should choose the option that best supports your financial well-being while striving to keep the relationship amicable. Good luck with your property purchase!

If you are buying it as an investment property there is not 5-10% down at this time. Maybe 15% down but very rare, hard, and rate will be super high in todays market. The DSCR would not pass most likely. Even if you got a regular conventional loan for a tri plex you would have to put 25% down vis Fannie Mae 3-4 Units FRM/ARM: 75% and 2 Units FRM/ARM: 85%. Only way you can get 3.5% down is FHA but it has to pass the FHA Self-Sufficiency which is really hard these days but still can be done. OR you can do owner financing, get on the title, make sure there is a mortgage on the property under your name. Then you can do a rate and term refi. You could Subto it if the owner is willing.

For FHA your DTI can be 47/57. BUT that is if everything matches up. Are the student loans deferred while you are in college? If yes, then we have to use:

We have to calculate the money payment: 0.5% of the outstanding balance

We cannot excluded payment from DTI unless:
-Not allowed if loan is deferred or in forbearance
-Can exclude when loan balance has been forgiven, canceled, discharged, or paid in full

Few things: Do not touch the land because most lender want fresh untouched land. Most likely your wife cannot be part of the building process. The builder will have to be approved by the lender which will take a few weeks. I am not sure what lender can help you in TX but I would contact a Licensed Mortgage Loan Originator to help you. 

Also, If your wife and her dad build houses I would see who they have that will lend you the money to build then do a refi when it is build into a regular loan. 

First thing is move out of California. Haha Just kidding. When I was an agent I cold call a lot. You will get some mad people but you just need one or two to get started. That's how you will get listing. It will take multiple times calling and keeping in contact with people to get listing. Make sure you do not sound like a robot. Just be yourself. Do not lie like these other Realtors. Do not say oh I have a buyer in your area, would like to bring them buy, and you do not. Be real with people and keep in touch that is the biggest thing ever! Greatest advice I got was "RUN YOUR MOUTH" Go to meetups, talk to people in public, just make connections. Door knocking is out dated. If you have any other idea let me know and I can tell you if I did it or now. 

Easiest way to finance a property is the DSCR loan. 20% down, No Employment, No Income, No DTI. Become a pro member of biggerpockets and use https://www.biggerpockets.com/...

Your local Realtor will have real estate contract and addendums. 

You will most likely not be able to buy all of it at once. Tell your broker to check out these guy
https://msfagriculture.com/ https://mortgagesolutions.net/find-a-loan/purchase/rural-agricultural-loans/