Bill Bein's (wbein) Blog

This blog post is #7 in a series we call "Mortgage 101." To see the whole Mortgage 101 document, click on this link: Mortgage 101 Remember that, especially in this market, all that glitters is not gold! Few mortgage brokers are true experts in this market-and the initial low rate many quote may t...

This blog post is #6 in a series we call "Mortgage 101." To see the whole Mortgage 101 document, click on this link: Mortgage 101 Types of Loans: Conforming. Unless theirs is a jumbo purchase, people with at least 5% down and good credit typically apply for what is called a ‘conforming' loan (it ...

This blog post is #5 in a series we call "Mortgage 101." To see the whole Mortgage 101 document, click on this link: Mortgage 101 It's important to explore all your options with a good lender. The key question no longer is "What's your rate?"-now it's "What the best fit for me?" You don't want a ...

This blog post is #4 in a series we call "Mortgage 101." To see the whole Mortgage 101 document, click on this link: Mortgage 101 FHA financing requires just 3% down, but can be hard to get everything (including the appraisal) approved.   Here is a link that will take you to the Tools / Resources...

This blog post is #3 in a series we call "Mortgage 101." To see the whole Mortgage 101 document, click on this link: Mortgage 101 Closing Costs / Earnest money •·         Earnest Money. $1,000 typically goes with the opening offer. An increase to 2% is typically the minimum sellers will accept, 3...

This blog post is #2 in a series we call "Mortgage 101." To see the whole Mortgage 101 document, click on this link: Mortgage 101 Down Payment If you can put 20-25% down, there may be very favorable rates available (but not many people can handle that large an amount). Especially if you are buyin...

This blog post is #1 in a series we call "Mortgage 101." To see the whole Mortgage 101 document, click on this link: Mortgage 101 Financing a multi-unit is now almost an ‘art.' Credit score (your ‘FICO') as well as your intent to occupy will influence rates a lot, but it may not be necessary to h...

"Arm-Chair" Investors are those who do NOT want to live in the property they buy (a more precise term for this would be "NON-owner occupied"). The question we ask here is: Where have ‘arm-chair' investors like that been concentrating their investments? Our work with arm-chair investors has led us...

There are, we think, three keys ways of evaluating each property you look at. This blog covers the last of the three, which is EXIT STRATEGY. Other blogs cover WORK NEEDED and PRICING. 3.   "Exit Strategy." How long will you have to hold the property? Can you rehab and flip it? Are prices and ren...

There are, we think, three keys ways of evaluating each property you look at. This blog covers the first of the three, which is PRICING. Other blogs cover WORK NEEDED and EXIT STRATEGY. 2.   "Hot/Warm/Cold Analysis." There are four main factors in multi-unit real estate: Location, Size, Condition...