All Forum Posts by: Nikki Grizzle

Congratulations! Reading peoples success stories definitely pushes me to keep going. 

Wow I did not know that. Homepath is still advertising the 10% down for investors and 5% for homeowners. Kind of misleading as I was under that assumption that this was a great deal and looking forward to acquiring a homepath home through them. 

we used a VA loan and the VA approved us right away. We had no isssues with them. I didnt know marital status was discrimination as well. I wish I would have known that before. Now it makes sense why the lady who took over our paperwork called me personally to try and work with me right after I told her I had every email they wrote lol. That would have been a nice settlement.

@Ben Braddock Would you say it would be wise for a newbie investor to get into mobile home investing. I have been wondering if it would be profitable to purchase land large enough for at least 5 to 10 mobile homes. We would only purchase brand new mobile homes. I am not too familiar with the mobile home area as I am from NYC where my perception of mobile homes were far from positive.

At the time we were just so irritated and ready to get the process over, we did not think about the whole age discrimination issue. Now that I look back, we could have definitely sued. We presented every information and they would constantly hit us with more information we needed last minute. Unfortunately we were not married then either and so the last thing they could come up with is the underwriter said no because we were not married. Now, that I still have in my emails from when I was my husbands POA.

This is awesome! Count us in! Did you used to meet at Tupelo? Now Im craving Tupelo.

My husband had all his paperwork. He had over 2 years employment with his contract company. Everything they asked us for we gave them. The VP of his company wrote them and sent a letter of his contract, which was a 4 year contract. The lady had told my husband they considered him high risk because of his age at the end. At the time he was 26. Not sure if that counts as discrimination but we had a much smoother ride with the smaller bank. 

Mike, my husband and I went through the contract worker issue when we were building our home. We were not married at the time and due to him being a contractor they gave us a hard time. Many banks do not view contracting as stable income even tho he was making 6 figures on a regular basis. I would suggest going with smaller, local banks. 

Has anyone ever applied for a conventional loan and just used a hml for the 20% down payment? Is it possible to then turn around maybe 6 months later and refinance that 20% down payment with the conventional loan company you are currently using? 

@Dana Dunford Thanks for the info. Makes sense. So either way it would help eliminate that cost out of my own pocket.