Real Investor Match » loan

If I purchase a home in all cash would I get a mortgage or home equity loan?

Editor — Fri, 02 Apr 2010 15:58:27 +0000

I am planning on purchasing an investment property with 100% cash. I can purchase the property at 60% of market value. I then plan on pulling a loan out for 60% of the market value. Would it be considered a mortgage or a home equity loan? A mortgage currently is about 300 basis points lower than the home equity loan. I am hoping it would be considered a first mortgage because it would not be a second lien position. Thanks

Who can help me get an investment loan with a 587 credit score?

Editor — Fri, 02 Apr 2010 13:58:19 +0000

I need $75k-$80k for an investment property who knows someone that can help me make this happen I am working and I live in Texas. I need a good deal please help!!!

Where is the best place to go for a real estate investment loan in FL?

Editor — Fri, 02 Apr 2010 09:58:21 +0000

I’m looking to buy a property and I don’t have much to put down, what kind of finacial requit\rements do banks usually require to purchase investment properties?

What would be a decent interest rate on a 30 yr mortgage loan for 200K, with 200k down payment?

Editor — Thu, 01 Apr 2010 13:58:16 +0000

Credit score is excellent. Investment property. I don’t know how to judge whether my broker is getting me a good deal or not.
The loan is for 200K, the down payment is 200k….the house is 400K.

Can a Small Business loan be used to purchase investment properties?

Editor — Thu, 01 Apr 2010 11:59:17 +0000

I’m entertaining the idea of using a small business loan to purchase investment properties for rental income and to renovate certain properties for resale down the road. Anybody have any opinions on this or know anything about it? Is this even allowed? What other options would I have?

Thanks!

Can I get an FHA loan on a home that has tenants?

Editor — Thu, 01 Apr 2010 07:59:00 +0000

I am interested in purchasing a short sale that has tenants in place through May 2011. My intention is to occupy the home as soon as their lease is up, but I was told by my mortgage broker that the only way to purchase this home would be as an investment property (with minimum 20% down!!!). Is there any way to get an FHA loan on the home?

can you get a FHA loan for investment property?

Editor — Wed, 31 Mar 2010 13:58:15 +0000

Borrowing loan from family to buy an investment house (In Australia)?

Editor — Wed, 31 Mar 2010 01:59:08 +0000

If you can answer any of the questions below that would be much appreciated. Thank you in advance.

I am thinking of borrowing money from my aunty, who is willing to lend me the money to buy an investment property for a very low interest rate. She is not a resident of Australia, therefore does not have to fill out the tax return. But she does have a bank account here, where she pays 10% of her interest.

What I want to know is:

Can I still claim that interest on the borrowing on my Tax Return? What documents will I need to proof that I have borrowed money? Do I need some formal documents?

Home equity loan interest is tax deductible?

Editor — Tue, 30 Mar 2010 23:59:01 +0000

I have two mortgages – one for primary residence and one for investment property. I know that interest payment on both loans are tax deductible. But if I get a home equity loan against my primary home to pay off my high-interest car loan, the interest on this home equity loan is also tax deductible?

can i get a primary residence loan on a home that is not my primary residence?

Editor — Tue, 30 Mar 2010 23:58:58 +0000

I do not own any real estate and the home I want to buy is 12 hours away in another state. If I get a Primary Residence Loan, and the home ends up being an investment property, how does that affect me? Will it only come up if I sell it and am faced with capital gains?

What is the best type of loan to get when buying an investment property to flip? And what do they offer in Tex

Editor — Tue, 30 Mar 2010 15:58:22 +0000

want to buy bank own property need mortgage loan for $10.000 who can do this?

Editor — Tue, 30 Mar 2010 10:58:34 +0000

the property needs some work but is a good investment
i really need to find who can finance this loan for me

Loan for investment property.?

Editor — Mon, 29 Mar 2010 17:58:29 +0000

If I have a house with no morgage worth about 750K, and about 250K to put down on an investment property, BUT have no income, will I be able to borrow a further 250K from a bank to buy a 500k Investment property?

What is the best home loan for a short term mortgage?

Editor — Mon, 29 Mar 2010 15:58:20 +0000

It is for an investment property and I am only planning on holding on to it for 3-5 years. What is the best home loan available with the lowest payment without any differed intrest?

What type of loan is best?

Editor — Sun, 28 Mar 2010 19:58:41 +0000

Recently purchased a home with a 30 year fixed at 6.0% and looking to refinance to take advantage of lower rates. Our goal in 5 years is to buy another home and either keep our current property as a rental or buy an investment property. What type of loan would you recommend? A 30-year, a 5/1 ARM or 7/1 ARM? Current pricing for each is 5.375%, 4.25% and 4.625% respectively.

I found a sweet investment property out of the country for 200K Where can I get a loan to help finance this?

Editor — Sun, 28 Mar 2010 19:58:39 +0000

There really is no financing available in the country. The builder is offering financing but would require putting at least $60K on a step up plan down over the next 6 months then 9% interest payments on 50% of the purchasing price. I don’t have that kind of cash on hand.
The entire property amount is only 200K and I can put down 20%. Any thoughts would be great.

Thanks
winmar

Can someone rent a home that they purchased with an FHA loan?

Editor — Sun, 28 Mar 2010 07:58:52 +0000

If you purchase a home with an FHA loan (and you still owe on that loan) can you use it as an investment property? Furthermore, can you purchase other properties when you have an FHA loan? Can you live in another property other than the home you purchased with the FHA loan? What are the restrictions?

Tax Question: Should I buy rental property with a mortgage or take out a home equity loan?

Editor — Sun, 28 Mar 2010 00:58:24 +0000

I am buying a rental property for $50K. I will put 10K down so I need to borrow $40K

I have 2 offers that will determine whether I will apply the mortgage interest on my schedule E for rental property or as an itemized deduction on my 1040.

Home equity loan against my primary house at 6.09% with $300 loan processing fee. 15 year note – 1st years interest payment will be $2452 – I think this interest would be an itemized deduction.

Mortgage for the investment property at 6.25% with 1 3/8 points. Total fee is $2100 including points. 15 year note – Ist years interest payment will be $2492 I think this would be an expense on my schedule E.

I am at a 28% tax bracket and have no other mortgage on my primary house.

To further complicate the picture I have $34000 in student loan debt and could roll this into my home equity loan.

What would be best for my taxes? Take the home equity loan or a mortgage on the new property? Should I roll my student loans into the home equity loan?

How do you go about giving up title of investment property to the bank who owns the loan?

Editor — Sat, 27 Mar 2010 21:58:44 +0000

Should I stay away from a second mortgage interest only loan?

Editor — Sat, 27 Mar 2010 07:58:53 +0000

I’ve been approved for a 1st mortgage at a fixed rate of 7.38 and a 2n mortgage interest only at 10.425. This loan is for an investment property. I’ve been told that the 2nd loan is Home equity line of credit. How much will my payments go up on the 2nd mortgage and should I look for another loan. Thank You.

Is loan interest deductible on an investment property?

Editor — Fri, 26 Mar 2010 23:58:58 +0000

what qualifies as a second home for mortgage loan?

Editor — Fri, 26 Mar 2010 13:59:23 +0000

I am working overseas, I want to buy a house in Texas. Can I consider it to be a 2nd home and ask the mortgage company to give me interest as second home instead of calling it “investment property” ?
The interest rates and taxes for 2nd home is less than investment property.

It will be rented out till we come back to Texas.

in illinois what is the best back to get a loan from for an investment property if your middle score is 547?

Editor — Fri, 26 Mar 2010 01:59:10 +0000

also I don’t work but my spouse does and I have the better score between us. I would like to buy a 27,000 house with value of 103,222 and rehab it.

Getting a second home that I will live in within 5/6 months with a low interest loan.?

Editor — Thu, 25 Mar 2010 19:58:40 +0000

I am a RE investor in training. And I just got a property that I am suppose to live in as my principal home. I will rent out the rest of the rooms to generate cash flow. However I want to buy another property to generate more cash flow. But I want to get a low loan rate if possible. Is it possible to get a second loan without having to get an investment loan with high interest?
I had a couple people tell me that in about 5-6 months I can write a letter to my lender and tell them that I dont like to live there anymore for any reason, ie hate the location, don’t like the neighbors, etc. and that I want to buy a second home and live in there. That way I can go out and get me another loan for a low rate and have that as my new principal property, while keeping the first home to rent out for cash flow. These guys already has 6 homes and tells me that is how they has been doing it. Is this legal?

VA Home loan, first time home buyer.. Any suggestions?

Editor — Thu, 25 Mar 2010 15:58:23 +0000

My hubby and I are looking into buying our first home/investment property. It is a duplex 2/2/1 on both sides. I am still a student so I dont have any income other than fin aid and loans. He makes about 45 K a year. I do graduate in december of this year, so once I do graduate we should be doing well. It is on the market for 140K, hubby was military, so has a certificate for a VA loan. My credit is good, 660 and hubby’s not so good at 590. Wondering if anyone could give me any advice. Is this something we should even be looking into right now since I dont have an income yet. I mean we do rent so we would be paying the same with the exception of the income of the rental unit. We have about 5 K saved so that would help if we came into a crunch. We were also hoping to get 100% financing. Any info would be great!!

Is it smart to do an interest only loan on a rental or investment property?

Editor — Thu, 25 Mar 2010 03:59:16 +0000

loan at 350k 70.5% ltv cashout refi on second home or investment property 739 fico SIVA Hybird option arm 1.25

Editor — Wed, 24 Mar 2010 07:58:54 +0000

Start Rate

in illinois what is the best bank to get a loan from for an investment property if your middle score is 547?

Editor — Wed, 24 Mar 2010 05:58:34 +0000