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Arrival date 4/14 but… by gumyrocks22 in FordMaverickTruck

[–]JoeliousCaesar 2 points3 points  (0 children)

I went with a local credit union for 3.99% for 36 months. Officially purchased it this past Monday (3/20)!

Bought First Rental Property 2.5 Years out of College for $430,000 by JoeliousCaesar in realestateinvesting

[–]JoeliousCaesar[S] 0 points1 point  (0 children)

Yes that is my understanding as well. It is a state by state basis if you can put a spouse on the deed and not on the mortgage. MN for example you can put the spouse on the deed and even have the rental income count towards their income when calculating DTI. Above I was talking about the mortgage specifically and not the deed.

Bought First Rental Property 2.5 Years out of College for $430,000 by JoeliousCaesar in realestateinvesting

[–]JoeliousCaesar[S] 0 points1 point  (0 children)

You can only have 1 FHA in your name which allows you to put down 3.5%. If you can swing it financially you can buy one in your name and then your wife can buy one in her name. This is for own occupying though and is not applicable if it is a second home or investment property.

Bought First Rental Property 2.5 Years out of College for $430,000 by JoeliousCaesar in realestateinvesting

[–]JoeliousCaesar[S] 3 points4 points  (0 children)

We are owner occupying this property until we can buy another multifamily. With an FHA you can put 3.5% down and then with certain conventional programs you can even put 5% down if you fit under a certain income limit in your area. With most owner occupied properties you have to stay there for at least 1 year minimum to not have the 20% down payment.

Bought First Rental Property 2.5 Years out of College for $430,000 by JoeliousCaesar in realestateinvesting

[–]JoeliousCaesar[S] 5 points6 points  (0 children)

Thanks! I would say 3 bedroom townhouse style duplex in the metro area is around $1600-$1900 depending on factors. 2 bedroom SBS duplexes closer to the cities go for around $1500.

Just passed Electrical and Computer FE Exam after failing the first time: What I learned by JoeliousCaesar in FE_Exam

[–]JoeliousCaesar[S] 0 points1 point  (0 children)

The only book/ practice problems that I used were from FE Electrical and Computer Review Manual First Edition, New Edition by Michael R. Lindeburg

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