I’ve been looking to refi a property using Fannie Mae small balance program.

I told him what I expected the outcome to be and ensured him that I would do my absolute best to achieve the desired result.

Any balances due, tenants with late payments still dueIdentify any existing evictions in progressCertificate of Occupancy from the City of LA9a Property Report Natural Hazards Disclosure Statement Copies of all current insurance policies and insurance company contact infoLoss run from the insurance carrier (my insurance broker requires this from seller)Copies of ad valorem tax statements covering the Property for the last twelve (12) months, if anyCopies of electric bills for last 12 monthsCopies of gas bills for last 12 monthsCopies of water and sewer bill for the last 12 monthsCopies of trash bills for the last 12 monthsCopies of any vendor service contracts (common ones include landscaping, interior cleaning, laundry, fire alarm monitoring, and pest control) Copies of any environmental studies affecting the property, if any.A list of anything that will not convey with property (common items include laundry machines and appliances owned by seller)Copy of current management agreementCopies of all existing surveys of the Property, if any.Copies of all warranties for appliances, equipment, utilities, roof, paving, pool, etc., if any.Copies of the last three years’ profit and loss statementsList of all capital expenditures in the last 3 yearsDate of systems updates, if known (plumbing, electric, roof, HVAC) Preliminary Title ReportCopies of the most recent title insurance policies, if any.

With federal cutting the rates to zero, what to expect on high balance mortgages (loan amount above 500k since its pretty common in bay area). what interest rate to expect to refinance and new home mortgages ?

This makes your 2019 Tax Balance due by July 15 2019, Interest and penalties will begin to accrue on the 16th. 

And congrats on your achievements and your portfolio.

Total loan balance $1.130 mil.Shirley bought these houses in 2012 at a discount.

Then you have to balance how often you want to make the Draw since you have fees associated with them.6- You will more than likely need to provide financing in the beginning to purchase your property since Lenders do not pay 100% of the Purchase cost.7- I had to sign an ungodly amount of paperwork on my first Lender loan. 

@Christopher Buford Example: -You get an owner disbursement sent you leaving a $300 reserve balance in your account for maintenance -A repair is needed and it costs $350... your account balance now in the Red by $50 (-$50... meaning your PM forwarded you their $ to complete your repair)-Your tenant does not make the next rent payment so the $50 delinquency remains, which would be remedied if the rent had been paid but hasn’t -Your PM would be in the hole by $50 until you satisfied the debt Your PM is telling you that they don’t want to withhold maintenance if the amount exceeds your reserve so their asking you to increase the reserve because they are expecting missed rents due to the pandemic.Hope this helps.

We are working with multiple retail tenants and will likely be doing a moratorium on rents, then will amortize the balance due over the remainder of their lease.