Are there lenders who take on a small amount for refi?
I am looking for lenders who would refi at $50k. Most of the lenders in the market are at $75k minimum. My property is worth $150k and I need the funds to renovate our bathroom which needs it badly due ...
Lender wants me to buy points to close a loan
This is my 3rd loan with this lender and I have a week to go before closing. My loan estimate has a $5k fee for a 6% but no rate lock. Lender is pushing me to buy points to close the deal, what are my o...
Triple net deals? how do they work?
I am new to real estate investing and I have my eye on triple net properties. Where do I start? How do I get financing for a triple net deal and how much down payment is usually required?
Aliso Viejo, CA - May 6th 2022
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First time investor needing advice
Are there lenders who will take on 100% financing based on a property's cash flow? I don’t have extra funds for a down payment and I am currently working my way out of debt. This will be my first inve...
Surprised to see additions to my loan principal after forbearance
I used to be in a Covid forbearance program and I am now able to resume payments. The lender sent paperwork and loan modification and I don’t understand why there are escrow payments and a $20k junior...
Looking for lender who would take on commission based income
I live in Idaho and am looking to buy a home. I’ve been having difficulty getting approved since I’ve been with the same company for over two years but I was switched to a new position and have been...
Do we shop around for lower rates?
We got pre-approved yesterday and the rate was 5.3%. We live in Texas and we thought the rate was quite high. The lender informed us that this was the lowest rate right now and that we can explore other...
Does an inactive credit card affect approval for my construction loan?
First-time buyer with a new construction loan ready to get approved. I have a credit card that was closed due to inactivity a few months before closing and I want to know if this would affect approval. ...
How long should I be in business before applying for a loan?
Buying my first real estate investment this year. I own a small business and I pay myself. Will my W2 earnings and business income count when I apply for a mortgage? How many years should I be in busine...
Canadian citizen planning to buy a property in the U.S.
I am a Canadian citizen with a TAX ID in the U.S. I own a couple of houses in America which are fully paid. I’ll be getting a working visa soon and I plan to buy a property worth $1.2M with 10% down p...
Discovery Bay, CA - May 3rd 2022
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What are my chances of getting approved even with a parent plus loan?
Hi, we live in California and we’re buying our first home. Credit scores are in the mid 700s. We tried a VA loan to avail of the no down and no PMI but we were denied due to a $100k parent plus loan f...
Should I listen to this builder's recommendation?
A builder recommended that I buy down my interest to qualify for this home in Arizona. The original rate is 5.1% and $8075 to bring it down to 4%. This is an FHA loan and I have no idea how long I’ll ...
Are these charges legit?
I plan to convert my current HELOC to a mortgage loan for $140k. There is a transfer tax of $1780 under closing costs. I live in Maryland and was wondering if this charge is legit?
Can lenders call a loan due at any time?
Does a lender have the right to call a mortgage due at any time for no reason? I overheard a discussion about the 2008 crash where lenders called loans even if borrowers were not in default or in breach...
Is this a good deal fo a new construction project?
We closed on a new construction and we plan to lock the rate for 180 days. We asked the builder’s lender and they are giving us 5.1% for a 180-day rate lock. A deposit of 1% of the loan amount is requ...
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