You definitely should consult with your tax professional. As a rule we Licensed Loan Originators are required to defer questions of this nature to a tax professional.
PowerHouse Solutions, Inc.
185 Great Neck Rd, Suite 240
Great Neck NY 11021
Licensed Mortgage Banker â€“ NYS Dept. of Financial Services
As you may be aware, there are many great real estate agents in our areaâ€¦ Rather than having all of them answer your question over and over here on Trulia â€“ you might want to consider contacting a qualified real estate professional that you trust who can help you with all the details
If our team would be so privileged to earn your business, we would be thrilled to help youâ€¦
Trish Chandler, REALTOR, CDPE
Michael Saunders & Company
Your consultant will advise regarding the ownership structure that will best suit your objectives.
Welcome to the Sunshine State.
Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group, Palm Harbor, FL
To avoid possible conflict, especially if you plan to homestead the condo, I would wait until actually purchasing another property to start doing improvements to the condo as an investment property.
Response from a retail Bank Rep. after I asked her how many of the below programs they can offer: Honestly Steve, after reviewing them, I donâ€™t think we can do any of these. We are pretty vanilla, Straight FHA VA conventional. I will keep your flyer and if I run across anyone we can't help I will send them your way. thanks
100% LTV- USDA/12 mo. into Chapter 13 BK is OK!
100% LTV- VA/can pay off debts on purchases too!
99% LTV- FHA
97% LTV- No PMI/MI and No 1.75% FHA FEE
95% LTV- No PMI
95% LTV- CONDO
90% LTV- No PMI-2nd Home
90% LTV- JUMBO w/cc
85% LTV- NO PMI to Super Jumbo
80% LTV- Invest. Prop.
STATED INCOME ALT loan programs: http://www.StatedIncomeAlt.com
80% LTV- FIX nâ€™ FLIP Invest. Prop.
80% LTV- NEW- Stated Income Alt
75% LTV- NEW- Foreign Nationals- Stated Income Alt
75% CLTV-NEW- after Short Sale, BK or Foreclosure
70% LTV- Soft and Hard Money -Stated Income Alt
LOT/VACANT LAND LOANS
COMMERCIAL PROGRAMS (many programs available nationwide)
Pro Option Mortgage/Florida
Ph: 888 662 4404
Prior Service U.S. Marine Corps
As the others have stated this is definitely a question for a tax attorney. When you speak with them be sure to give them all the details of what you wish to accomplish.
I would be happy to assist you in finding a condo and a home. Please contact me directly if I can be of further service.
Best of luck to you!
Thanks and take care,
Karen Schwartz, Broker