Reminders: Brick Foundations; FHA; Rental Income; Over-Reaction
A few quick reminders:
1. Brick Foundations Are Not Deal Killers. Lenders allow for brick foundations as long as appraisers state they are “typical for the area” and appraisers are usually willing to do so.
2. FHA Loans are not harder to close than conventional loans. They are often easier and faster b/c of looser guidelines. The appraisal/condition requirements are almost identical too. We can close all FHA loans in 17 days.
3. Investors buying a rental property can use the future rent to help qualify. We use 75% of the market rent if the property is vacant.
4. Markets and People Over-react. Brexit is another example. The stock market has already recovered, and rates have not dropped as much as predicted. The WSJ had a great column today about over-reaction in recent years: http://www.wsj.com/articles/the-overblown-brexit-market-panic-1467239754
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 01524255, NMLS# 335646