All Forum Posts by: Account Closed

Hello, 

I am looking into refinancing my owner occupied duplex to getting rid of my PMI and take advantage of lower interest rates. What are normal costs? Points? Closing costs? Is it possible to do no points and roll the the closing costs into the loan?

Help. I want to purchase more properties but I don’t have enough for a down payment on another at 20% down. How do people do this?? 

Hey All,

Trying to avoid PMI insurance, does anyone know where I can find a private lender that would give similar lending terms as a bank without all the added fees?

Hi,

I just signed a lease on a place through a property manager and looked up the tax assessors report for the property... It shows that the owner is behind on paying property tax the last 2-3 years.

Should I be concerned about renting here? Is there an opportunity for me to buy the place? The property manager said he was renting the place out in order to help get the taxes paid...

Fishy...?

If I used a conventional loan on my first duplex purchase, but now I want to purchase a 2nd duplex—can I use the 3.5% down FHA loan if I plan to owner occupy 2nd property??

Hello St. Louis, MO. Real Estate Professionals,

I am a single female in St. Louis looking to buy a liveable multi-family unit to owner occupy with hopes of dramatically reducing my personal monthly costs. I prefer South City St. Louis, MO.

Preferred Neighborhoods: Dogtown, North Hampton, South Hampton, The Hill, Tower Grove South, Benton Park, Richmond Heights, ect.

I am already pre-approved for financing by 2 local lenders. My lease is up March 3rd. I’m ready to buy!

Help!

Hello All,

I live in St. Louis City and I am a single female looking to buy a multi-family unit as my first time home purchase. I plan to owner occupy one of the units.

My question is—what is the best way to finance a multi-unit if I plan to purchase another multi-unit or home in another year or 2?

My mortgage lending officer told me I could put 5% down on a conventional loan on up to 4 units. (To avoid PMI the entire life of the loan.) And then I could use the 3.5% down FHA loan for the 2nd purchase as long as I owner occupy the 2nd purchase. Is this true?? Is this allowed with FHA? (Asking as I have heard some lenders will push you toward a conventional loan if I can afford it...as they get more money that way?)

I could use the 3.5% FHA loan first...but then won't getting a conventional loan on a 2nd property require a lot more down? 15-20%?

Any advise on financing is much appreciated!