Does your experience make a difference if you take out a mortgage before or after buying the property? It can affect…

Responses

1. 

   Estie Leavitt-Azulay January 11

   Before interest rates are lower than in repayments. Plus you will have more closing costs. Although you will
   Re credit issue
   But you will have to pay for the tait company again. When you take out a loan at the time of purchase you get Simultaniuos issued rate then sometimes it is more lucrative.

2. 

   Sheryl Sitman January 11

   Start talking to banks. Everyone works differently. Nir Sheinbein's recommendation is the smartest strategy. But check with the bank what they require. For example, sometimes only after the property has been working for half a year or a year can you do a refi. It's never too early to start finding out.

3. 

   Ted Gilboa January 11

   Yes you can get in retrospect after purchasing the property. But you will have to do another closing procedure with the bank and it will cost you more money in addition to the freeze that the bank will do anyway, even if you take out a mortgage before closing the property or afterwards.

4. 

   Nir Sheinbein January 11

   Shlomi Lavi
   You asked a question,
   From my personal experience,
   The after-purchase mortgage purchase process can be a very effective strategy if you buy cash below market price.
   For then with the help of renovations - small or large, you can raise the value of the property in the eyes of the appraisers.

   For numerical comparison:

   If you take an 80 percent mortgage on an asset that is worth $ 100 when you buy,
   That is, you received - 80 thousand dollars from the bank.

   But if you bought the same property at 100. You increased it a bit, tidied it up, and you hired.

   You can get a bigger value on the house. Suppose 130.

   And now. You come to the bank to get the cash. Your 80 percent is not worth $ 80.
   Rather, they are worth $ 104.

   You produce this aquatic in a very fast way.

   And you don't have to sell the property, so it's not a tax event either.
   You continue to rent, using the $ 104 you have now received from home to buy a new home.

   You left if the same money you put in (in theory because we didn't take into account the cost of the renovations but let's assume they were minor)

   However, not every property is suitable for this method, because one must remember that once you take out a larger mortgage. There is a bigger charge.
   And you have to make sure that the rental does cover all the monthly expenses + the mortgage and that you also have some money left over each month.

   This method is also called reverse mortgage or BRRRR

   It is very effective, and I bought several houses with it. ?

5. 

   Amos Lemberger January 11

   After there are fewer checks and usually get more because you have made improvements to the property (if I renovated it)

6. 

   Zack Shmuealevich January 11

   If possible, always worth following. It is easier to get good conditions and no time pressure

7. 

   Michael Assido January 11

   In the United States you will have to accept
   Pre-approval
   Before purchasing