All Forum Posts by: Marci Mayes

The first week of January I closed on the refinance of my duplex located in Conroe, TX. I have never had a homestead exemption on it. The lender has already sold my mortgage. I didn't have any issues with the refinance. 

Would you be willing to share a copy of the 4 page assignment contract that you use?

Most of my purchases have been north of the 336 Loop near Conroe Regional Airport, and they are easy to rent.  I just purchased a rental in Montgomery near Lake Conroe.  I am not sure yet how well that will do, but I guess time will tell. 

Yes, Conroe is one of the fastest growing cities in the country.  I have purchased flips and buy and holds in Montgomery county.  I plan to continue to hold my long term rentals because I expect continued appreciation with all the population growth. 

I live just north of Spring, TX.  Parts of Spring flood.  Does this home have any history of flooding?

FHA loans are only available for owner-occupied homes. You would need to live there and house hack in some way. You cannot finance with a FHA loan if you don't plan to live there.

Makes perfect sense!  Thanks!

Thanks so much!  It makes perfect sense.  Are sellers allowed to owner finance a second mortgage for owner-occupied homes?

Are there any lenders in Texas that would issue a 80% LTV first mortgage and allow the seller to take back a 20% LTV second mortgage? If not, what about 80/15/5 or 80/10/10? Would the SFR need to be owner occupied or are there are lenders who will do piggyback loans on non-owner occupied properties?

Ok, this helps.  Thanks!