All Forum Posts by: Melvin List

@Matt Sora I would purchase the property in your personal name so you can Homestead the property and avoid paying higher property taxes down the road

@Ryan Blankenship this is an easy loan for a mortgage broker.  Try findamortgagebroker.com  

@Nathan Wierzgac if you transfer the title the lender can apply the due on sale clause and call your note due.  This will be up to the lender but have rarely have I seen this happen as long as you are current on your payments

@Luis De Jesus Bridge loan?  You have other properties you would like to include for a bridge loan?

@Chris Bauer your best option would be to take it out of the LLC at closing and go conventional if that is an option for you. If not there are plenty of options out there for the condo to remain in an LLC but the terms will be higher in most cases.

@Katelyn Christiansen I would stick with FHA for the best terms and low down payment. The market rent should also be considered when purchasing a multi family. You will also have to pass the self sufficiency test with FHA. If your loan officer does not know what this is you need to find another lender.

@Lauren Quest maybe a small correction but nothing like 2008.  If you are buying long term I would not be too concerned. 

@Zachary Taylor I would reach out to a local credit union for a HELOC if you have good credit. Just be ready for the process to take a while. Before rates went up the loans would close in a couple of weeks. Now they are taking sometimes a couple of months.

@Shu Matsuo Post still a stable market in my opinion.  People are moving here more and more!