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Patricia Amadi


Real estate agent (9 years experience)

Buyer's Agent,
Listing Agent,


  • (119 Contributions,
  • 0 Best Answers,
  • 5 Helpful)

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Can I buy a second home and rent out my current home?


Banks has caught up on people deceptions. They are calling it 'BUY AND BAIL". Buying a new home and bailing on old one. They are not considering the lease agreement any longer. You will have to buy the new home as an income property with 10% or 20% down payment. Contact a Mortgage Broker for your options. Good Luck

Getting an FHA loan in NYC (Manhattan)


Yes most condos do not accept FHA. Contact a mortgage broker and get Pre-Qualified for a loan. You will know exactly how much to spend on a condo or to wait. There is nothing to be afraid of. Information is power.

what rate should i expect 5% down


Great Score! Are you frm the Twilight Zone?What we are seeing now is 3.5% to 3.75% for owners occupied and4.5% to 5% for income property.You could also pay upfront cost to buy down the rate.

Are there any lenders that are allowing FHA streamline refinances on rental properties?


Now lenders are refinancing if  your property is either Fannie Mae or Freddie Mac. But, you must be current on your mortgage and have not missed payments in the last three consecutive months.Fannie Mae does noit consider credit scores but Freddie Mac does. Both also looks at your loan-to-value (LTV) ratio.Bring out a copy of your Mortgage Statement and look for your Lender's number and call. Request for a lower interest rate.In addition, make sure that you a copy of your current Homeowner Insurance Policy.Good Luck