All Forum Posts by: Tyson Jordan

How can a mortgage broker save time by utilizing an all-encompassing credit inquiry authorization? As opposed to having their borrower sign separate authorizations for each lender.

Fhanks

Hi,

I have properties in 5 states and am looking to start using bank financing.

I would like to get prequalified with a bank in each state. In addition applying with b2r and Lima one. Also read good things about @upen Patel

My question is: since these are investment loans, how much will it cost in credit inquiries?

According to this article, if I apply within 14 days to each institution, it will only cost one inquiry.

http://themortgagereports.com/413/credit-check-fico-mortgage-rates

But do the same guidelines apply since I am an investor and not a homeowner?

thanks for the great answers!

I know for a cash deal it's simple.

So as long as I am prequalified with the bank, I won't have to keep my money in escrow and can just pay at closing?

Hi,

I am prequalified for a bank loan and will be closing on my property I have under contract.

This is my first bank loan. When do I need to wire my down payment to the title company? Can I do it the day before closing or does it have to sit there for a few weeks?

Thanks

Hi,

I have a burnt out house in a neighborhood zoned for 1-5 units. High income neighborhood.

I want to tear it down and build a triplex and sell the units as condos.

Who do I need to speak with and what permits/legal work do I need to do to get the entitlement for three units?

Thanks

I keep coming across deals with loans in place.

However, when it comes time to make the offer, the seller always says, "I just want an outright sale and to be done with the deal."

I state benefits such as this is a sale and we can sell quickly, and if I don't make the payments you get the house back, and I realize they need to trust me.

What is the best way to respond to this situation?