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I was going to post exact analogy. Walmart is considered lowest price for most items. A 50 inch tv you buy at walmart costs x dollars. That's your benchmark. Now you can go buy the same tv from Best buy, Amazon, or your neighborhood boutique shop based on the level of service you prefer. Buyer...

Why is there such an opaqueness on rates? If most lenders ultimately sell the loan to Freddie/Fannie, why is there no "published lowest rate" for a given borrower profile and lenders can tack on their razor thin or high markup for providing certain level of experience?

+1 if you don't mind.

All these years and I had no clue that the tankless heater needs flushing. Any recommendation for a plumber who'd do this for me for a charge?

I agree with SGIP. To a landlord who'd be watching costs carefully has 7-8%  of property value as carrying costs (interest, Taxes, Insurance, HOA), Add selling costs 6-8%, add rehab costs, add all other fee and costs that lender ends up holding the bag for and one can quickly see that 30%...

As of yesterday, Loan depot rate on high balance conforming on investment property refi is 4.125% fixed. Ouch! World changes so fast in a matter of days.

Anyone got quotes on rental property refi since the new rule went into effect wrt .5 cost tacked after 1st sept closing?

I wanna get in on the bidding war before it is too late. This home is a steal, I must act right away....

You are right, not impossible but costly. I assumed that when HELOC is taken out, the combined LTV will push beyond what lenders prefer for cashout refi and they will ask borrower to paydown or payoff HELOC.

Penfed works great as USCTCPA suggested. However, be careful, once you take heloc out on rental, refinancing first mortgage will become almost impossible until HELOC is closed. If you are happy with the rate, take the HELOC. Or, refi first, then take HELOC.

I locked my rate a while ago, hoping to close in 2-4 weeks. LVT at 63%, rate 3%, costs about $3k. Loan depot. Looking forward to close as my rate will plummet from 4.75% to 3% - the rental will become worthwhile.

Sgip, What happens to LO and other employees commission When loan closes within a month of opening? Their effort and time spent is wasted? Or they get to keep their commission because they delivered on the file till funding?

The other thread on mortgage rate is dominated by PR borrowers and sometimes hard to compare notes. Hopefully this thread will pick up steam and all landlords can exchange info on what rate they are paying, LTV, what refi/new purchase rates are available, lenders etc. for their investment...

I am no industry insider but as a consumer, this is what i think is going on: Historically, and even today for some people, closing on a mortgage transaction has been a challenging and time consuming endeavor. The lenders, by choice and by limitations of regulation banked on the fact that if I...

Moral of the story...Don't sell. But then, if you are sitting on >500k gain and make >500k a year...you probably are good with money and would make an optimal financial decision anyways.

There is a sweet spot of temp range. Too hot a day like today means less efficient panels.

How strict is an HOA you ask? a while ago HOA had sent me a letter, with a picture in it, that showed a small 1 foot high, 3 foot wide shoe rack that I had kept in my entryway by the door. It was not allowed and I was asked to remove. My home is at the end of the motor court, so there is no...

A primary residence usually does not qualify for an exchange because it is not used in trade or business or investment. That said, that portion of the primary residence that is used in a trade or business or for investment may qualify for a 1031 Exchange. Frequently Asked Questions (FAQs) About...

Me too. SO, $2M lifetime for a couple?

Ok, so here are the considerations from past few days of news: 1. CARES act payments to citizens are running out by end of July and the new stimulus is not considering mailing checks out to citizens. 2. 30% of mortgage/rent payments this month are late, partially paid, or not paid at all. 3...