Sooner or later every investor must ask the question "Where can I get the money to do my next deal?" Today James Eerdmans from American Realty Property Management and Finance of America Mortgage will help answer that question.
James is a prolific investor who has bought and sold hundreds of properties in the past 20 years. He's also well versed in the different loan products available to home buyers and investors.
In this episode we'll discuss the standard types of loans available to home buyers such as FHA and VA, credit score requirements, Private Mortgage Insurance, and the amount of money you'll need to put down (anywhere from 0% to 25%).
We also discuss FHA 203k loans, which allow homeowners the opportunity to roll their rehab costs into the amount borrowed.
James also discusses the differences between Conventional, Commercial, and Private Lending, and how they apply to investors. You'll also learn how to protect yourself from having your loan 'called in' during the next downturn, the meaning of 'portfolio loan', the number of residential loans you can have, and the different ways banks value your property.
If you're unsure of the different loan options available for your investments, or are looking for updated information on the lending industry, I know you'll enjoy today's conversation. You can contact James by email or phone:
jeerdmans@financeofamerica.com
616-726-5700
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