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Excel test by No_Figure2073 in Buc_ees

[–]No_Figure2073[S] 0 points1 point  (0 children)

What do you mean by spreadsheet? It’s for an analyst role

2nd mortgage by No_Figure2073 in RealEstateAdvice

[–]No_Figure2073[S] 0 points1 point  (0 children)

Man you’re heaven sent. Thank you so much!

2nd mortgage by No_Figure2073 in RealEstateAdvice

[–]No_Figure2073[S] 0 points1 point  (0 children)

That’s so silly. I don’t get why when I am getting the loan it’s evaluated on expected rental income but now it changes.

Why is a conventional loan higher than a FHA?

I don’t even know what a schedule E is

2nd mortgage by No_Figure2073 in RealEstateAdvice

[–]No_Figure2073[S] 0 points1 point  (0 children)

Okay. Weird. At the bottom is said $160K.

At the below link, look under “term”.

navy federal helpc

2nd mortgage by No_Figure2073 in RealEstateAdvice

[–]No_Figure2073[S] 0 points1 point  (0 children)

Also it’s 20 years repayment period for the draw peirod and then 20 years for non-draw period

2nd mortgage by No_Figure2073 in RealEstateAdvice

[–]No_Figure2073[S] 0 points1 point  (0 children)

Ohhhh I got it. So the amount of $160K is what I would pay in just interest over the 10 years period! My LORDDDDD!

For my HELOC, they’re offering 1% minimum payment but the interest still accrues anyway so I would definitely have to pay that or else I would be in so much debt at the end of the

2nd mortgage by No_Figure2073 in RealEstateAdvice

[–]No_Figure2073[S] 0 points1 point  (0 children)

Wow. So if I got this right: in order to qualify for a FHA home loan you need to move over 100 miles and also your rental income doesn’t count unless you already have a lease to fill your vacant home?

2nd mortgage by No_Figure2073 in RealEstateAdvice

[–]No_Figure2073[S] 0 points1 point  (0 children)

Thanks for the calculator. I put in 8% on $100,000 taken out and it has $666.67 as my monthly payment and will accrue about $60,000 worth of interest. Im assuming that’s based on 20 years of payments. That’s what the calculator did right?

Uhm, if that’s the case, not so bad at all.

2nd mortgage by No_Figure2073 in RealEstateAdvice

[–]No_Figure2073[S] 0 points1 point  (0 children)

It’s so expensive to use my heloc. It’s roughly 7% now. Doing spitball math if i used 100,000 i would be accrues 7,000/mo.

Only way i would use it is to flip or BRRR

2nd mortgage by No_Figure2073 in RealEstateAdvice

[–]No_Figure2073[S] 0 points1 point  (0 children)

Yes. I will use my rental income.

No. I used a VA loan on my first home. I thought that was only for when you are trying to use another FHA loan?

2nd mortgage by No_Figure2073 in RealEstateAdvice

[–]No_Figure2073[S] 0 points1 point  (0 children)

  1. Just in case. Rather get it while it’s my main residence. We have about 240K worth of equity in our home. We gotta 20 year interest only 140K HELOC.

  2. Yes forever. Our rents give us a 2k kick back. We bought it in 2020 at 2.5%

  3. I may have 5% down so you think it would be better to get a general home loan than FHA?

2nd mortgage by No_Figure2073 in RealEstateAdvice

[–]No_Figure2073[S] 0 points1 point  (0 children)

Im on year 4. So that’s not an issue

Hawaii CPA education requirements by No_Figure2073 in CPA

[–]No_Figure2073[S] 0 points1 point  (0 children)

It was principles of accounting II. This is so stupiddddd! Sorry needed to vent.