All Forum Posts by: Rik Hunter

I think Brandon Turner said it in a podcast, but you could ask for contact info for the last two landlords to avoid the problem you described.

I don't have an answer, but the Todd Baldwin podcast episode might:

https://www.biggerpockets.com/...

@Stephen E. Not a bad idea, but it's rented out. 

@Garvin Watson That's great advice. I'm in my second property, a SFH, and used a VA loan for it. Refinancing the duplex might make sense simply because I'd have it under a non-VA loan and could then go buy a new second home using another VA loan.

@Reid Chauvin Just a follow-up on the term. Are these always limited to 15-yrs? (And Navy Federal surprised with going up to 95% LTV.)

@Reid Chauvin thank you! That was helpful, and I'm finding the roughly 4% rates.

@Ashley Cross, thanks for this! I'll expect a higher rate and lower LTV.

@Tarik Turner I hadn't heard of this type of mortgage before, so thanks for that, but my current mortgage is at 3%. So, I'm not sure about how this would be to my advantage. I'm looking to cash-out to finance rehab on my current project. 

@Douglas Spence, I'm thinking that with USAA being a big bank that it's possible the person I spoke with was mistaken. This was the lowest level agent. I was pretty confused by them saying it'd need to be commercial, but I was unsure because I'm now paying local taxes at the "commercial" rate rather than the "residential' rate I had while living in it.

@Jeff Shumway, right, I wouldn't be able to do a VA refi, and I was also confused about why the lender said it'd have to be a commercial loan. But with USAA being a big bank, the person I spoke with may have no experience with an individual investor. So, I'm not using any business entity for this.