187: 100-Year Mortgages and Qualifying For Income Property Loans with Graham Parham
Get Rich Education
Keith Weinhold
4.8 • 612 Ratings
🗓️ 27 June 2018
⏱️ 42 minutes
🧾️ Download transcript
Summary
#187: A mortgage is a tool. Used responsibly, you can control 5x as much real estate with 20% equity than you can with a paid-off property. Risk is discussed.
If I could, I would want 100-Year Mortgages rather than 30-Year Mortgages on my properties. You'll learn why.
Graham Parham of Highlands Residential Mortgage joins us. He tell us the latest income property loan requirements today. We discuss conventional loans on 1-4 unit rental properties.
Graham tells us about your Ability To Repay (ATR) factors that mortgage underwriters seek.
We discuss your Debt-To-Income ratio limits, Reserve Requirements, interest rates today, credit scores, paying discount points, 30-year vs. 15-year mortgages, and appraisals.
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Listen to this week's show and learn:
00:57 You can own and control more real estate if you have loans on them.
02:08 What's the risk of borrowing?
03:26 100-Year Mortgages.
09:24 Qualifying for loans if you don't have "W-2" income from a day job.
11:57 Loans for foreign buyers that want U.S. income property.
13:18 Ten loans with 20% down.
13:49 Ability To Repay (ATR).
15:52 Debt-To-Income (DTI) ratio example.
16:23 Your reserve requirements.
19:13 Interest rates today.
21:18 A 740 credit score is the highest that can help you.
24:23 Paying discount points.
28:03 ARMs and 30 vs. 15-Year Mortgages.
30:45 Example of one paid-off property vs five with 5:1 leverage.
33:43 Appraisals.
Resources Mentioned:
Graham's phone: 1-855-326-6802
Graham's website: TexasInvestorLoans.com
Graham's resource: InvestorsLoanGuide.com
Cash Flow Banking: ProducersWealth.com
Mortgage Loans: RidgeLendingGroup.com
Apartment Investor Mastery: BradSumrok.com
Transcript
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| 0:00.0 | Get Rich Education is brought to you by Ridge Lending Group, apartment investor mastery, and producers' wealth. You're listening to the show that has created more passive income for people than nearly any show in the world. This is the powerful Get Rich Education. The President get rich education welcome welcome to get rich education I'm your host Keith |
| 0:36.6 | Wyandhold and today we're going to talk with one of the nation's more prominent loan originators of income property loans for investors just like you. |
| 0:45.3 | We'll be joining us shortly and you'll find out what the latest is on what your minimum down payment requirement needs to be and what your investor interest rates are going to look like today and more. |
| 0:54.2 | But first, let's talk a bit about how a mortgage is used as a tool for you. |
| 1:00.6 | Now, 10 or 20 or 30 years from now, do you think that real estate is going to be worth more |
| 1:08.0 | or worth less than it is today? |
| 1:10.0 | I think most anyone, if they had to make a guess, |
| 1:13.0 | would say more. Now, if it's going to be more, well then you want to own and control more, |
| 1:19.9 | and you can own and control five times as many properties if you have 80% loans on all of |
| 1:25.2 | them and 20% down, rather than having them in a paid off position. |
| 1:31.0 | And yes, it's really all that financially free beats debt-free reasoning that we discuss here at |
| 1:36.9 | GRE. I think that real estate investors just in general have a predilection toward being |
| 1:43.8 | Maverick. And then even among real estate investors, |
| 1:47.8 | I think that most of the strategic, better thought out investors, they want to prevent an accretion |
| 1:55.2 | of equity from taking place in any one property. Home equity is unsafe, illiquid, and its rate of return is always zero, |
| 2:04.5 | so I want to lever as much property as I possibly can with it. Well, now, what is the risk of doing that? |
| 2:12.1 | Well, to be on the say side, you want to be sure that the cash-on-c cash return of your income property meets or exceeds |
| 2:19.0 | the interest rate expense of borrowing. |
| 2:23.1 | Well, knowing what we know about home equity, I then want to pay off a property as slowly |
| 2:29.9 | as I possibly can. |
| 2:31.7 | You see, you've got to realize that both tenants and inflation are already |
| 2:37.6 | weathering. They're already eroding your equity down for you every single day. So therefore, |
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