QUOTE (donksky @ Sep 17 2008, 12:35 PM) Heard that as of today, the 0-down program, 40-yr am. for rentals is over for all lenders. Is this true? No more lenders will do this now? Any loans requiring insurance are no longer available with zero down or 40 year amoritizations. The 40 year...

QUOTE (llee @ Sep 14 2008, 08:21 PM) Hi, My bank`s mortgage specialist said she could offer variable closed for P-0.7. Does anyone have any better rate? If you have referral who can get me a better rate, send me an email or post here. Thanks. As Mike pointed out, if you are planning on...

QUOTE (TommyK @ Sep 9 2008, 11:47 AM) Hi fellow REIN, I just spoke to my TD broker and she told me that the max amortization that is allowed on the rental property is based on the appraisal. Say I am looking at 30-year-old townhouses. If the appraiser only estimates 20 year life-span of the...

QUOTE (Lucas @ Sep 7 2008, 01:04 PM) Hi all, A friend and I are looking to invest in a small multi-family complex. We are interested in purchasing a distressed building (but solid and "decent) in a transitional, high traffic area with 4 to 8 suites...this depending largely on current...

QUOTE (investmart @ Sep 6 2008, 07:07 PM) Hi Everyone, During my previous purchase I was VERY surprised by the bank`s (RBC) last minute request that I close a non-secured line of credit (LOC) I had with another bank (TD) or reduce the maximum amount there from $10K to $5K(!) TD LOC balance...

QUOTE (alexmaz @ Aug 21 2008, 08:36 AM) Lender requested to have appraisal done on the property (1 bdr new condo). I`m looking for a licensed company to do quick appraisal in Grande Prairie. Thank you in advance, Alex If its for mortgage purposes - get a list of approved appraisers from your...

QUOTE (Goodstuff @ Aug 19 2008, 01:28 AM) Hi everyone. I have 3 properties besides my own house. Because I`m pretty much at my limit with the banks - they don`t want to give me any more money, as my income won`t support it - I don`t think I can get a LOC on my own home. The properties pretty...

QUOTE (drew @ Aug 15 2008, 04:55 AM) Hello all, The mortgage on our personal residence is coming up for renewal on October 31 and I have an offer from my current provider First Line for a 5 yr variable prime-.3% and prime for the heloc where the available amount increases with the mtg paydown...

QUOTE (aleksei @ Aug 15 2008, 11:38 AM) Hi everyone, Quick question here: Suppose I were to JV with three other investors for my first three properties. Rent from all three properties covered expenses by at least 1.1. Would I now qualify for the 1.1DCR financing??? If so are there any other...

QUOTE (investmart @ Aug 1 2008, 12:09 PM) Thank you Peter, Your input on the topic of mortgages is always appreciated! If I understand you correctly, on a rental "If the client has strong liquid net worth, clean credit and 35% down or more, there are conventional lenders that will do it...

QUOTE (investmart @ Jul 29 2008, 11:34 PM) Hi Everyone, For someone who is not an employee, has no job but a good credit score (>700) is it probably still possible to qualify for say a $200K mortgage by putting a high % down, say 40%? Same question regarding a person in the same situation who...

QUOTE (GarthChapman @ Jul 28 2008, 12:33 PM) Refer to Peter Kinch`s reply above "The simple fact that its a revenue property would NOT require insurance!" Either the Lender has some concerns about the property itself or you as a borrower, or your Mortgage Broker is not fully conversant in this...

QUOTE (loewencc @ Jul 28 2008, 11:50 AM) wondering if there is still an insurance fee when you put 20% down on a rental property? I always thought you avoid those fees when you put the 25% and now 20% down initially. But my broker is telling me there is still an amount... less than high ratio...

QUOTE (Fleetwoodmac @ Jul 23 2008, 10:35 PM) I am so sorry. This just makes me really angry. It happens all the time. There is no compensation - it`s just the `deer in the head lights look` and a shrug of the shoulders. I wish the professionals in the real estate and related industries who are...

QUOTE (r557 @ Jun 26 2008, 08:10 AM) From doing some diligence, I have received good feedback on this is a good mortgage broker to work with. We never really got much into 5 year plans, so it sounds like that`s something i need to come up with and talk to him about it. He has been very good to...

QUOTE (r557 @ Jun 26 2008, 07:02 AM) Trying to get my first mortgage has been a bit of a challenge for me. I have been in a new job for the past year. Prior to that, i was self-employed and had some challenges at times making sure bills were always paid on time. However, since the new job, it...

QUOTE (theastrophysicist @ Jun 20 2008, 05:27 PM) Hi everyone! This is my first post here. As someone else already said, I too have learned so much from Don`s books and reading the posts here. My question is about buying a larger property, something around $500K, with less than 20% down. I...

QUOTE (nepoez @ Jun 9 2008, 11:54 AM) Hi Investors it`s me again. My partner and I came across a potentially great revenue generating property. It is a supposedly R2 zoned property. It looks like a left right duplex but it`s been converted into a rooming house sort of thing with 16 rooms. My...

QUOTE (meggie @ Jun 7 2008, 04:49 PM) I will probably have to rent it, however I will talk to the builder also. No, I have no experience renting but I think I`m going to have a crash course in it in a few months. What does happen if the banks appraisers refuse to loan the money now that the...

QUOTE (investmart @ Jun 1 2008, 02:03 PM) Hi All, I learned something interesting from an experienced banker last week: You can get approved and put 25% down even if you are not working, i.e. between jobs. THEN, when/if you start working again say in 6 months, you can REDUCE the 25%...