Fri, 2 September 2016
#99: Income property investors’ most commonly asked mortgage questions are answered by Ridge Lending Group President and CEO Caeli Ridge.
There’s a lot of good news - the lending environment is loosening. www.RidgeLendingGroup.com
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Listen to this week’s show and learn:
02:39 This episode is about conventional financing of income property.
02:58 Next week’s milestone Episode 100 will be special.
04:57 Caeli Ridge interview begins.
07:54 Seasoning of funds. Gift funds.
10:27 Reserve requirements. 60% of your retirement funds qualify for reserves.
13:37 LLCs. Married couples.
15:10 How wife & husband can get 20 conventional loans.
17:17 Cash-out refinances: two types - standard and delayed.
26:05 DTI - Debt-To-Income Ratio. 50% maximum.
28:00 How your DTI changes when you add a rental property.
31:23 Credit score.
33:39 How the mortgage lending industry is loosening, not tightening.
34:25 It’s now up to 80% LTV for your first ten financed single-family income properties.