All Forum Posts by: Marco G.

@Jack B. I’ve financed and refinanced numerous properties with aimloan since 2012. I started a refi with them on my personal residence in May and after a series of oversights from them I abandoned it after 9 weeks(!). Their service quality and costs are no longer competitive in my experience.

@Emily Manktelow

Best advice is to speak to a local agent. They’ll give you the best info. Interview at least three and don’t just automatically go with the one that gives you the highest sale price or valuation.

@Pancham G.

This bill is DOA in the Senate. It’s an opening salvo in a long negotiation, nothing more. Anything less will seem reasonable by comparison.

Thanks for all replies. That was my inclination but curious what others were doing. And the initial post was intended to mean only one tenant is on a payment plan, the rest are all paying early or on time.

Thanks to all.

What have you been/are you planning on doing with lease renewals? Are you renewing at current rates? Going month to month at current rates? Increasing? All my current leases expire end of this month through September and I am considering what to do. So far I’ve been fortunate with only one tenant making payments, and some even paying early. These are B- located properties. Thanks.

@Jessica Lawrence

Look at your mortgage paperwork, but you can also get a reappraisal that will run you a few hundred bucks and if the mortgage is 80% of the currently appraised value it will also be removed. That's going to be your easiest and least costly option, if the value has appreciated enough since purchase and you've held long enough (often there is a 2yr minimum that you must carry the PMI).

@John Patterson

How do you know you're at 43% DTI? Is this your calculation or a bank calculation? The guidelines add the depreciation deduction back in since it's not an actual incurred expense. Do you know if that was accounted for?

@Andrew Postell

Thanks for replying. No, these are actual costs not escrow prepaids (not escrowing). App fee/points over $4k and over 3k in 3rd party service fees.

Anyone have success finding low cost cash out refi’s in Texas? My usual go-to institutions are quoting me around $6k to $7k in costs, which I don’t want to do in order to get $50k equity out...

Any suggestions or leads highly appreciated. This is on a duplex, so costs are a little higher than SFH in my experience.

@Douglas Gratz

Thanks for asking this question, I learned quite a bit from this thread!