Financing in 91101 : Real Estate Advice

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ryateslenders, Real Estate Pro in Plano, TX
ryateslenders answered:
What is the rule of thumb on monthly mortgage to net income?
There are several factors to consider and a simple 25% of your income is not enough. Some people have a lot of monthly debt (auto loans, credit cards or student loans) others do not. Le ... more
0 votes Share Flag Sun Aug 25, 2013 Financing in 91101
ryateslenders, Real Estate Pro in Plano, TX
ryateslenders answered:
Is it easier to qualify for a loan by yourself or jointly if the other person has bad credit?
If someone has bad credit, chances are they will not be allowed on the loan. Both the signer and co signer must have acceptable credit to be on the loan, lenders go by the lowest score.
0 votes Share Flag Sun Aug 25, 2013 Financing in 91101
Irina Karan, Real Estate Pro in Aventura, FL
Irina Karan answered:
Lender requires property management agreement
I liked what Lou wrote below - more downpayment (if possible), actually accepting this condition and signing up with the cheapest property management company, getting an experienced inv ... more
0 votes Share Flag Sun Aug 25, 2013 Financing in 91101
Rene' De Bla…,  in San Diego, CA
Rene' De Blanco, MBA answered:
Does applying for a loan jointly with another person who has no credit history help or hurt getting approved?
If you can qualify on your own, do so. Less potential headaches than adding a non-occupant co-borrower.

Hope this helps!

jdeblanco@kinecta.org
0 votes Share Flag Wed Jun 6, 2012 Financing in 91101
Tommy Lee,  in 91502
Tommy Lee answered:
Is it possible to finance an all cash offer?
newinvestor,
Looks like you have mixed answers. Basically two agents hit on the right answer. The contract you sign is the guide. If you say all cash up front and then try to switch du ... more
2 votes Share Flag Thu Mar 18, 2010 Financing in 91101
Edward Uriar…,  in Pasadena, CA
Edward Uriarte answered:
How many LLC members need to guarantee a commercial loan?
Minimal one, but it all depends how many are needed to qualify.

Edward Uriarte
(310) 463-2270
1 vote Share Flag Wed Mar 17, 2010 Financing in 91101
BOB Khalsa, Real Estate Pro in Newhall, CA
BOB Khalsa answered:
Commercial Financing...is this a good deal?
What about prepayment penalties and is there any lock out period? These are important in case you want to refinance. Otherwise the terms look fairly good. As regards the DSCR or Debt Se ... more
1 vote Share Flag Wed Mar 17, 2010 Financing in 91101
Gerard Dunn, Real Estate Pro in Chevy Chase, MD
Gerard Dunn answered:
Lending to LLCs and LPs
I would ask for this in writing. Most servicers put the loan on ALL the borrowers credit. If you are dealing with a smaller local bank - this may be correct.

Better to be sure in a ... more
0 votes Share Flag Tue Mar 9, 2010 Financing in 91101
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