All Forum Posts by: Saira Ahmed

@Randall Alan

Grt advice already reached out to like 5 people!

Hello we want to make an offer on 48 bank owned homes being sold together as 1 portfolio. We have to get a preapproval for about 3 million dollars. Every bank i have called does not deal with this type of transaction. I even spoke to the small business section of the big banks- please advise where we can get this funding from and firstly get the prequalification from??

@Diana Muresan

Ty! So they are charging $3750 for origination, $1500 for title fees and $600 appraisal and other miscellaneous fees - no escrow is included in this

@Nicholas Covington

Thank you i am in jersey. So they are charging $3750 for origination fees, $1500 title fees and $600 for appraisal and miscellaneous-

@Nicholas Covington

Hey thanks for the response! Our home is worth $220k, paid off- it’s a rental. And we are trying to take out $150k so we can purchase 1-2 more rentals. The fees are coming to around $6000. I was not sure if this is normal? I have taken heloc out in the past on investment properties and primary home and don’t recall having to pay these fees?? Any insight is much appreciated .

Recently tried to take a credit line from an investment property that is paid off. For heloc was being charged $3000-$6000 in closing and title fees- is this typical?

If not, what companies are the best companies to reach out to get cash out and refinance ??