Get Rich Education

#56: Learn today’s financing qualification requirements for investment property with Caeli Ridge, Owner and CEO of Ridge Lending Group.

This pertains to conventional financing of: single family homes, duplexes, triplexes and four-plexes that you do not intend to occupy.

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Listen to this week’s show and learn:

00:52  If you want to control more property, you need good loans.

04:50  Compared to last year, are borrower requirements more rigid or more lax?

07:39  Your credit score, debt-to-income ratio, percent down payment, reserve requirement.

12:46  Qualifying for your first 4 properties is different from your 5th through 10th financed properties.

15:47  Qualifying for your 11th through 35th financed properties.

17:13  Can foreign buyers qualify? Also, LIBOR comments.

19:28  Maximizing your cash-on-cash return when structuring a financed offer.

21:21  Buying income property outside the state where you reside.

22:44  Minimum loan amount is $50,000 to $60,000.

26:10  What is a Good Faith Estimate?

27:58  Closing costs - what are they and where do they all come from?

30:58  Why you would want to pay a 2% Origination Fee rather than 1%. It’s by paying 1 Discount Point to “buy down” your interest rate.

32:55  Recording costs, transfer taxes, escrow charges, appraisal fees, processing fees.

36:02  Title Insurance

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Direct download: GREepisode56_1.mp3
Category:general -- posted at: 4:00am EDT