Mortgage InfoCenter - Request streamline eval - Financing 5+ properties, Investment mailing list

By
Mortgage and Lending with LX Financial LLC

I am amazed at the detailed questions I get nowadays from Realtors, borrowers, and others. It prompted me to convert my website to a Mortgage Information Center for peeps who want to know more. It includes a detailed Mortgage Summary (stuff you'll want to reach at least once if you are a Realtor), complete FHA/Fannie Mae underwriting guidelines, 203K presentation, and more. Check it out. If you have any recommendations for making it better, please let me know. /// As the stock markets go up and down, so do interest rates. Surpringly, rates have not increased as much as one would expect. The US Dollar remains the preferred currency. Read. /// Make it a good week folks. - Paul :)

FHA streamline refinance
This refinancing option is considered streamlined because it allows you to reduce the interest rate on your current home loan quickly without an appraisal and without having to qualify for the loan again. The loan must be in good standing and the refinance must lower your monthly payments. There are no cash-out options, but the closing costs may be added to the loan. Any FHA loan with a rate of 4.50%+ should be evaluated for viability. You can make an online request for review here.


How many properties can you finance?
The answer is: Ten, 1-4 unit properties. (Other type properties are not included). The reserves and credit score requirements go up, and maximum loan to values come down with properties 5-10.

Reserves
When the borrower will own 1-4 financed properties (including the subject
property) the reserve requirements are:

- 2 months on the subject if it is a second home,
- 6 months on the subject if it is an investment, and
- 2 months on each other financed 2nd home or investment.

When the borrower will own 5-10 financed properties (including the subject property) the reserve requirements are:

- 2 months on the subject if it is a second home,
- 6 months on the subject if it is an investment, and
- 6 months on each other financed 2nd home or investment.

Fico and LTV

For full details go here.

Fix & Flip investment list
I have a constant stream of investment opportunities with annualized return ranging say 10% to 50%+. To add yourself to the mailing list, subscribe here.

  Contact me 

____________________________ 

"Think not those faithful who praise all thy words and actions,
but those who kindly reprove thy faults"
Socrates

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Topic:
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New Jersey Bergen County
Tags:
financing 10 properties
fannie mae
fix and flip
mortgage info
streamline
fha

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