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Author: john (John Rapasky)
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CRE FINANCING IS GOING TO GET TOUGH
Today’s post is written by Michael Green, Commercial Loan Originator for Counsel Mortgage Group, LLC CRE FINANCING IS GOING TO GET TIGHT Yes, I know, after 16 months of increasing rates and continuing QT to the tune of about $1 billion/mo., things are already tight. But did you know … Over the next 12 months,...
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INVESTOR VIDEO SERIES – CAN I QUALIFY TO PURCHASE AN INVESTMENT PROPERTY?
If you can qualify for a primary residence, you can probably qualify to purchase an investment property. When purchasing an investment property, the appraiser prepares a schedule of market rents. The lender takes 75% of the rents on this schedule and subtracts the proposed mortgage payment. This amount is then added to your income or...
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INVESTOR VIDEO SERIES – ROI AND CASH FLOW
Return on investment (ROI) and cash flow are factors to know when purchasing an investment property. For example, let’s assume you put $100,000 down on a property, rent it for $3,000 per month, and your expenses, including mortgage, are $2,400 per month. The cash flow is $600 per month income, which totals $7,200 per year....
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FIRST-TIME HOMEBUYER VIDEO SERIES – COMFORTABLE PAYMENT
If you are a first-time homebuyer, be sure you are comfortable with your new payment. Lenders may pre-qualify you for a higher loan amount and monthly payment than you want to spend. Don’t fall into the trap of going for the higher payment just because the lender says you can qualify for the mortgage. In...
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CLE by the Sea
What a great conference! It was a pleasure to attend and speak on real estate finance at the Real Property Section of the State Bar of Arizona CLE by the Sea in Coronado, California. The faculty was excellent and shared a wealth of knowledge and information. They covered topics including: up-to-date AZ real estate market...
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FIRST-TIME HOMEBUYER VIDEO SERIES – CREDIT
Credit is a big factor considered by lenders when applying for a mortgage. The better the credit score, the better the interest rate, the lower the mortgage insurance, and the lower the payment. One quick tip to get a good credit score is to keep your credit card balances low. Although there is no magic...
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State Bar of Arizona – CLE by the Sea
I am honored to be speaking on real estate finance at the State Bar of Arizona CLE by the Sea conference July 9-11 at the Hotel del Coronado in California. I will be discussing residential and commercial real estate finance. If you would like to learn more about it, or attend, click here: https://www.azbar.org/for-lawyers/cle/cle-by-the-sea/ Hope...
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THE SCARIEST TERM IN YOUR NEW COMMERCIAL MORTGAGE
We’ve written before about lenders raising the bar, or tightening, lending terms and conditions. One of the terms that’s started showing up in the covenants is “full recourse only”. Everything beyond the value of the property is now on the line. This was a somewhat common term in the 70’s and early ‘80s going...
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FIRST-TIME HOMEBUYER VIDEO SERIES – DOWN PAYMENT ASSISTANCE
You may have heard of loans where you don’t have to put any money down, where the county or another entity will make the down payment for you. These are known as down payment assistance (DPA) programs. The down payment assistance can take many forms, such as a loan that will have to...