Subject-to financing means acquiring a property while leaving the seller's existing mortgage in place: the deed transfers to the buyer, but the original loan stays in the seller's name, and the buyer takes over making the payments.
Log in to followGot a deal sheet from a wholesaler that says "sub2, assumable, 3.25%" on it. When I asked whether the loan was actually assumable he said sub2 and assumable are the same thing, yo…
A wholesaler in my area is marketing houses where you take the deed and just keep paying the seller's existing mortgage. To me that sounds like using someone else's loan without a…
Trying to work out the operations side of these before my team touches one. The way it's been described to me, we'd get the seller's online login and just make the payment from ou…
Working a house where the numbers are: $412k balance at 3.125%, PITI $2,190, market rent $2,450, seller wants $45k for her equity and would carry $30k of it, value around $520k. E…
Deal in front of me is a VA loan, 312k balance, 2.75%, seller is active duty and moving. He's happy with subject-to in principle, small equity check, I take over payments. Then he…
Here's the deal I'm looking at. Loan is 2.9%, balance 227k, PITI is 1,412 with 310 of that going to escrow. Rent comps are 1,725 to 1,775. The problem is what happens to that 310.…
Duplex under contract subject-to, seller's loan balance around $211k at 3.75%, and her hazard premium is paid out of her escrow. My insurance agent says he can't just add me to he…
Structure I'm being pitched. Operator wants 60k from me to cover a seller's equity on a house with a 198k first at 3.4%. I'd take a second deed of trust recorded against the prope…
FHA loan, $265k balance at 3.25%, payment $1,870 with taxes and insurance. Seller is relocating and her loan officer is counting that full payment against her debt-to-income, so s…
Looking at funding an operator who holds title on three houses where the underlying loans are all in the original sellers' names. On one of them the seller told him straight out s…
Before I go looking at houses I want to know what the closing itself costs, because the courses all talk about buying with no money down and then never mention the desk fees. What…
I have four of these running. Two sellers have now come back asking to be released from the mortgage because their lender is counting the payment against their DTI and it's blocki…
Sorting through this from the lending side, so tell me where my math is off. Guy owes about 214k on a loan at 3.1%, house would list somewhere near 290k. He said he wants 75k for…
Closing attorney's suggestion on a house I'm working: deed into a land trust with the seller as the initial beneficiary, then she assigns the beneficial interest to me at closing.…
Been talking to a seller about a house on a double lot (the lot is honestly the part I want). His agent told me the seller would "wrap" his loan to me, then in the next sentence c…