All Forum Posts by: Neil Aggarwal

If a 15 year loan and 30 year loan have the same interest rate and charges, I would pick the 30 year one.  But, that is usually not the case.  You have to compare the entire loan programs to each other and also account if you are going to sell the property.

Having said that, I prefer the longest term possible since I can always prepay and shorten the length of the loan.

They can ask for anything.

Personally, I don't see it is reasonable.

50% LTV should be very interesting to a private lender

More specifically, it does not matter where you are getting the money.  You are the lender and therefore you should be on the title.

There will be two title policies:

1. An owner's policy for the person/entity that is buying the property.

2. A lender's policy for the person/entity that is loaning the money.

I assume you are asking about #2. I assume that since the HELOC is in your name and that is where the money is coming from, you will be the lender. That means the lender's policy will be in your name.

I think you are dealing with an imposter.

Look for a different house.  Why buy into something that could violate codes and zoning and has the potential for a huge problem.

Don't waste your time on people that are unresponsive.  Go somewhere else that actually wants your business and is willing to serve you.

I have worked with BlueSky Lending in the past and they were legit.

You can also look for private money sources in your area.