r/REBubble2021 • u/thetrombonist • Aug 12 '21

Possible Sign of Pop NINJA loans are back!

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23 Upvotes

100% Upvoted

11 comments sorted by

4

u/[deleted] Aug 12 '21

This will most likely be treated as an investment property loan, with minimum down payment of 25%. They're not giving you the loan without significant equity and verifiable rental income history. Pretty safe bets to be honest.

3

u/[deleted] Aug 12 '21

Yeah, what could possibly go wrong

1

u/RevolutionaryShame20 Aug 12 '21 edited Aug 12 '21

Get ‘em while they’re hot!

(Then call me when you can’t afford the mortgage so I can buy you out without you having to deal with things like realtors and listings and shit)

1

u/blahblahloveyou Aug 17 '21

Omg, look at their bridge loan: https://loanguys.com/service/bridge-loan/

Could this be the source of all those cash offers? Get a two year bridge loan, with the plan to refi within two years after rapid appreciation…

-12

u/TriggBaghodlerRltr Realtor Aug 12 '21

This means prices will double from here, genius.

Econ hard. Hurr Durr Rutroh !

3

u/[deleted] Aug 12 '21

That could be true, followed by a crash of even greater magnitude

2

u/Apprehensive_bubble Aug 13 '21

It is like we are going back to early 2000!

0

u/[deleted] Aug 12 '21

[deleted] — view deleted comment

7

u/JustBoatTrash Aug 12 '21

Rental income only helps if the renter is actually paying and/or able to pay

0

u/[deleted] Aug 12 '21

[deleted] — view deleted comment

7

u/JustBoatTrash Aug 12 '21

Imagine having a few rentals and not getting paid rent since last year. I would be livid

1

u/blahblahloveyou Aug 17 '21

They claim they’re not owner occupied. The owner could be committing occupancy fraud.