Question: How Do I Secure Loan Terms Without Giving Sensitive, Personal Information? Is there a way for me to find out what my interest rate and closing costs would be without a hard inquiry on my credit report and providing documents with my sensitive personal information to multiple people? Whenever I call a lender or mortgage company they want to pull my credit with a hard inquiry along with providing a lot of personal information before answering my questions. It’s not that
Archives for December 2020
Cash Out Loans: Investor FAQ
Want to see questions 1-3 from this real estate investor? Click the following links to see our past blog posts answering some very important questions. Questions 1 - 2, Question 3. Question 4) I hear interest rates for cash out refinances are higher in comparison to purchase and non-cash out refinances, is this true? Yes and no. Yes in that all initial loan terms, mortgage interest rates and lender fees are determined based on the risk assessment and the individual type of the loan
Ready to Invest? Your Cash Out Loans Questions Answered
Read our previous blog and next Blog post on this real estate investor’s questions 1, 2, 4, and 5 (include link to last and next blog post). Question 3) Am I better off obtaining a Conventional loan from the beginning or is it best to get a Private Money Loan first and then convert it to a Conventional loan once the property renovations are complete and the property is leased? Let’s look at the numbers and determine our answer, specifically the amount of money you bring to closing and the
Investor FAQ: Your Comprehensive Guide to Investment Loans
Investor FAQ Paul Lamnatos Question: Should I buy this particular investment property with Private Money financing and then refinance to a Conventional loan or obtain a Conventional loan from the beginning? What is my best option? I am interested in a particular investment property and am thinking of using Conventional financing rather than buying it with cash or a Private Money loan. The property is in good shape with the exception of the floors that need to be replaced and the
Debt to Income Ratio FAQ: What You Need to Know
Investor FAQ Paul Lamnatos At Blink, we pride ourselves on being available 24/7 to answer questions for Real Estate Investors, whether seasoned pros at investing or brand-new investors with unique questions. We recently got this question, and in 17 years in the business, I think this was a first, yet a very important question, so read up. Question 1: How does purchasing an investment home before purchasing my primary home impact my primary home loan options? Answer: In short, this
Cash Out Refinancing for Investors: Your Guide
We know as investors, you probably have a lot of questions. That’s why the Blink team is here to help, bringing decades of experience to the table to help answer your most burning questions. Like this one below: Investor Question: We just finished rehabbing our 1st investment property and we’re considering cashing out the equity we’ve built up. Is this something we can do and if so, how much money can we borrow? Lender Answer: Congratulations on completing your