Jared Fam Basics
Who is my son Carter named after?
Lil' Wayne and Jay Z
How many units in a property make it a commerical property?
5 or more
Can you finance the closing costs into a loan?
Yes, In a refi/purchase you can you can take a higher rate to cover the closing costs. Less out of pocket at closing but higher rate.
How many IA drivers licneces have I had?
3
What is a Bank Statement Loan?
Bank statement loan, are loans that allow borrowers to qualify for a loan based on their bank statements and cash flow.These loans are particularly helpful for self-employed individuals, freelancers, and those with complex or inconsistent income streams. TicToc and IG
What is a "paying a point"?
Refers to paying an upfront fee to your lender in exchange for a lower interest rate on your loan. This is often called a discount point or mortgage point, and it is typically, one point equals 1% of the loan.
How heavy is my Pitbull?
85lbs
ITIN loans are designed for individuals who do not have a Social Security number (SSN) but possess an Individual Taxpayer Identification Number (ITIN) issued by the IRS
What is a Pre-Payment penelty?
A pre-payment penelty is a penelty paid if the property is sold, paid-off, or a refinance takes place in the time frame under the terms of the inital deal.
What is my 3year old favorite word at the moment?
No, everyting is NO
What is a "generally" the minimum Credit Score required for qualifying?
620 cs
What is a Fix and Flip Loan?
A fix and flip loan is a short-term financing option designed for real estate investors to purchase, renovate, and quickly resell properties for a profit. generally a 12-18 mo program.
Are my In-Laws rational
NO!!
How many properties can you hold under Non-Qm financing?
ANY AMOUNT!!
What is an I/O loan and how many years can that be written for?
An I/O loan, or interest-only loan, is a type of mortgage where the borrower only pays the interest on the loan. Can be written for a 40yr loan. Generly for Investment Properties to help qualify.