All Forum Posts by: Upen Patel

Hi! @Eva Karnaukh Welcome to BP.

@Luis Rodriguez Think of it as the cost of doing business. You can wait to put together the down payment for a convention loan, and the property prices might be up and/or loan rates might be up. Other the other hand, you can buy the property you want, with the money you have, today.

Bird in hand is better then two in the bush.

@Sonja Gordon I can do a construction loan with interest only payments on the amount drawn. You will have to qualify for the existing property and new property (full loan amount).

Hi! @Kyle Bell Welcome to BP & DMV.

@Bayne Keenan Welcome to BP.

@Frank S., @Russell Brazil I correct. I would just add one more thing. The 10 count is for the # of loans you are a borrower on, NOT the # of titles you are on. So you can be the sole borrower on the loan, and have you and your wife on title.

Bump

@James Moore Being that its a condo, the only issue I can see as a mortgage banker is the financing. If too many condo's become investment/rental units, then it becomes a non-warrantable condo, which not too many mortgage bankers can do the loan on.

Hi! @Thomas Giganti Welcome to BP.

@Chris Mason You got that right. That's why I don't even offer the option. Some dodo will say he got cheated without presenting the full details, and we look bad.