All Forum Posts by: Upen Patel

@Tyler Polanco Construction loans are portfolio loans, so each lender makes their own risk decision. So there could be someone out there, but I would doubt it. Not as an owner occupied with just 3.5-5% down.

The more likely option is finding a fix and flip/hard money/private lender willing to do a ground up construction loan. Be ready to put min 10-15%.

Don't be limited by the Fannie/Freddie guidelines. With my non-agency loans, you can get a much higher leverage with 30 yr fixed loans.

• 1-4 unit residential property
• Investment property
• Purchase or Rate & Term Refi
  • 85% LTV up to $1,000,000 loan amount
  • 80% LTV up to $1,500,000 loan amount
  • 75% LTV up to $2,000,000 loan amount
• Cash out refi
  • 80% LTV up to $1,000,000 loan amount
  • 75% LTV up to $1,500,000 loan amount
  • 65% LTV up to $2,000,000 loan amount
• 30 yr fixed
• Full doc
• Min FICO 620
• Above LTV & Loan amounts based on Min FICO of 720 (slightly lower LTV for lower FICO's)
• Credit event seasoning - 2 yrs

I Lend in ALL 50 states!

You can see my real-time availability & book time with me: https://calendly.com/upatel

Why wait. Apply now!: https://apply.thefederalsavingsbank.com/#/signup?r...

**************************************************

Terms and conditions may vary. Subject to underwriting approval.

Member FDIC and Equal Housing Lender.

Don't be limited by the Fannie/Freddie guidelines. With my non-agency loans, you can get a much higher leverage with 30 yr fixed loans.

• 1-4 unit residential property
• Owner occupied
• Max DTI - 50%
• Purchase or Rate & Term Refi
  • 95% LTV up to $1,000,000 loan amount (Max DTI 43%)
  • 90% LTV up to $2,000,000 loan amount
  • 85% LTV up to $2,500,000 loan amount
• Cash out refi
  • 85% LTV up to $2,000,000 loan amount
  • 80% LTV up to $2,500,000 loan amount
• 30 yr fixed
• Full doc
• Min FICO 620
• Above LTV & Loan amounts based on Min FICO of 720 (slightly lower LTV for lower FICO's)
• Credit event seasoning - 2 yrs

I Lend in ALL 50 states!

You can see my real-time availability & book time with me: https://calendly.com/upatel

Why wait. Apply now!: https://apply.thefederalsavingsbank.com/#/signup?r...

**************************************************

Terms and conditions may vary. Subject to underwriting approval.

Member FDIC and Equal Housing Lender.

Condo, Co-op loans, including Non-warrantable condo. Don't ever be denied a condo loan again.

• Warrantable and non-warranable condo loans
• Conventional and non-agency
• Owner occupied and Investment
• Purchase, rate-term refi, Cash-out refi
• 30 yr fixed
• Full doc
• $100,000 loan min

Learn more at - https://mortgagefinancepros.com/condo-loans/

I Lend in ALL 50 states!

You can see my real-time availability & book time with me: https://calendly.com/upatel

Why wait. Apply now!: https://apply.thefederalsavingsbank.com/#/signup?r...

**************************************************

Terms and conditions may vary. Subject to underwriting approval.

Member FDIC and Equal Housing Lender.

Thanks for the mention @Kalyanii K. Hope all is well. Need to catch up soon.

@Matthew Miller The answer is not straightforward. It depends on the contingencies in your contract and if the FHA Amendatory Clause form was executed or not. If the contract had financing contingency then you should have a way out, as long as you invoked it within the time line OR the realtor extended the timeline.

What does your realtor have to say? This is their job.

@Neo Yeung Generally speaking this would be a non-warrantable condo. You can certainly get 30 yr fixed financing with the right lender, if that's what you are asking.

@Charles Kac Based on the additional details you provided, you should be fine doing a BRRR for the Cincinnati investment (it should have been fine in any scenario) AND you buying a new PR in Florida using an FHA loan.

Hey! @Cheri Castro My recommendation would be to do a low down payment standard loan and then cover the roof out of pocket. A renovation loan comes with a higher interest rate and added expenses. The cost of a new roof, wouldn't justify the added costs of a renovation loan.

Hi! @Brandon McLendon If you are going to house hack a multi unit then rental income from the other units (75%) would be counted in. So it would help you qualify for a higher purchase price.

Good luck.