All Forum Posts by: Natalia Soares
Natalia Soares has started 3 posts and replied 57 times.
Post: Financing Out of state, Short Term Rental in Florida
- Salem, MA
- Posts 59
- Votes 8
Originally posted by @Jefferson Brown:
All In Credit Union has a program that has 0% down for investment properties. We've bought two homes with them in Florida. Its a 10 year balloon but has a 30 year amortization. Try giving them a call.
Hi Jefferson, Do you have a contact that you work with personally that you can share? Thank you!
Post: 15% down for single family investment property - florida
- Salem, MA
- Posts 59
- Votes 8
Hi everyone, I’m looking for lenders that are doing 15% down for single family investment properties in Florida. Many changed their overlays but I will be going through a call list this week but if you personally work/ed with someone and can share contact, please let me know. Whatever I find I will share as well. Thank you!
Post: Airbnb Short Term Lender
- Salem, MA
- Posts 59
- Votes 8
did you end up finding any lenders?
Post: Best LTV % for HELOCs
- Salem, MA
- Posts 59
- Votes 8
Try elements financial they offer up to 100% LTV. Google the below exactly
allintext:100% LTV heloc
Post: Looking for HELOC at 85-90% LTV
- Salem, MA
- Posts 59
- Votes 8
Elements financial gives up to 100% LTV. Check signature fcu and penfed. If you google exactly as shown below, you can find it.
allintext:100% LTV Heloc
Post: Looking for HELOC at 85-90% LTV
- Salem, MA
- Posts 59
- Votes 8
Hi Chad,
if you haven’t found anything, try elements financial credit union, signature fcu and pen fed. They lend up to 100%.
Post: HELOC help. Trying to decide the best option/
- Salem, MA
- Posts 59
- Votes 8
Originally posted by @John Warren:
@Natalia Soares I have used a HELOC many times and I have one open now on my primary here in the Chicago area. The big thing to remember is that the HELOC is just a tool and the interest rate is normally interest only. What this means is that the interest rate shouldn't be the main consideration. Instead, focus on balancing the terms with how much money you can have available. I took out a HELOC with a really bad rate because it allowed me to have more money. Since I only pay the interest (and the rents from my tenants pays that actually) I am fine with the bad terms.
Thank you John. That is a very good point!
Post: HELOC help. Trying to decide the best option/
- Salem, MA
- Posts 59
- Votes 8
Hello,
I have been researching HELOC and was given the below terms. I just don't know which one to choose as all the options appear to be great. I am leaning towards the option that gives me the most amount (167k) but the 64k seems so good. Cash-out is not an option at the moment.
Any help would be greatly appreciated.
Thank you!
Property location: Salem, MA
- Elements Financial: 4.25% (intro 1.99 6 Months) 167,000. Draw 10 years. Repay 15 years
- Elements Financial: 3.75% (intro 1.99 6 Months) 84,000. Draw 10 years. Repay 15 years
- Bellwether Community CU: 3.00% (intro 2.99 36 months) 64,000. Draw 10 years. Repay 15 years.
- PenFed: 4.75% 108,000. Draw 10. Repay 20.
Post: Conventional loans for multi family
- Salem, MA
- Posts 59
- Votes 8
You can put 5% down on conventional. The program is called Home Possible but there are income limits same with the NACA program. Banks and credit unions can have there own programs too for first time home buyers just need to call around.
Post: Finance second home
- Salem, MA
- Posts 59
- Votes 8
Originally posted by @Elise Marquette:
Do you mean a second home like a vacation home? In that case, it's 10% down. However if you plan on renting it out then it becomes an investment property which requires 15% down for a single unit and 25% for a multi
Hi Elise, I have questions regarding the Vacation Home. I will message you. Thank you!