99: Investor Mortgage Loan FAQs with Ridge Lending Group’s Caeli Ridge
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 2 September 2016
⏱️ 42 minutes
🧾️ Download transcript
Summary
#99: Income property investors’ most commonly asked mortgage questions are answered by Ridge Lending Group President and CEO Caeli Ridge.
There’s a lot of good news - the lending environment is loosening. www.RidgeLendingGroup.com
Want more wealth? Visit www.GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities.
Listen to this week’s show and learn:
02:39 This episode is about conventional financing of income property.
02:58 Next week’s milestone Episode 100 will be special.
04:57 Caeli Ridge interview begins.
07:54 Seasoning of funds. Gift funds.
10:27 Reserve requirements. 60% of your retirement funds qualify for reserves.
13:37 LLCs. Married couples.
15:10 How wife & husband can get 20 conventional loans.
17:17 Cash-out refinances: two types - standard and delayed.
26:05 DTI - Debt-To-Income Ratio. 50% maximum.
28:00 How your DTI changes when you add a rental property.
31:23 Credit score.
33:39 How the mortgage lending industry is loosening, not tightening.
34:25 It’s now up to 80% LTV for your first ten financed single-family income properties.
Resources Mentioned:
Transcript
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| 0:00.0 | Get Rich Education is brought to by Norrida Real Estate Corporate Direct and Ridge Lending Group. |
| 0:08.6 | Cash flow real estate investors. This is Get Rich Education's Keith Weinhold. Did you know that you can finance up to 35 income properties all with one lender? |
| 0:18.4 | Ridge Lending Group specializes in investment property loans, |
| 0:22.4 | and they do it in almost every U.S. state. Ridge has worked with tens of thousands of real |
| 0:27.6 | estate investors and homeowners all over the country. They've been doing this for investors |
| 0:32.1 | for so long that at this point, they've helped more families realize their dreams of becoming |
| 0:37.4 | real estate investors |
| 0:38.3 | than any other mortgage lender in the country. To find out more, visit ridglinggroup.com. |
| 0:51.1 | Welcome to Get Rich Education with Keith Weinhold, giving you information and ideas on the investment that has turned more ordinary people into millionaires and billionaires than anything else, and can provide you with more wealth and happiness than you ever thought possible. |
| 1:09.6 | Now, here's your host, investor, entrepreneur, business owner, and educator, Keith Weinhold. |
| 1:20.4 | Hey, welcome to GRE. |
| 1:22.3 | This is Get Rich Education episode 99. |
| 1:24.8 | I'm your host, Keith Weinhold. |
| 1:26.7 | Thanks for being here, but you're not here for me. |
| 1:29.5 | You're here for you. Today we're talking about financing of your income property, and we're doing it |
| 1:36.8 | with the principle of the mortgage company that has helped more people realize their dreams of |
| 1:42.0 | financial freedom than any other mortgage lender in the country. |
| 1:46.9 | Sounds like someone that belongs on GRE, doesn't it? |
| 1:49.7 | That's Ridge Lending Group president and CEO, Chaley Ridge. |
| 1:54.1 | Now, I've hosted Chaley on the show once before, and for that show, we discussed the questions that I had and that I thought you would have. |
| 2:02.9 | Well, we're covering a lot of new material today because this time I asked Chaley if she would |
| 2:07.9 | discuss what the most frequently asked questions are that she gets from borrowers over time, |
... |
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