Help in choosing the best deal
It’s less than 30 days from my estimated closing date and I need to decide on a lender. There is an incentive if I choose the builder's lender which is $3k less in closing costs. Another lender is off...
Question on Points
I have received quotes from my lender and some are in points. I am not familiar with this and I want to know how much I am paying with points? How much are points? Are paying points any good? My quotes ...
Choosing a family member as broker?
A close family member owns a brokerage company and just got licensed in our state a few months ago. I am buying a house in a few months and I was wondering if I can save money if I choose him over other...
Can I use bank statements to verify income?
Hi everyone, I live in Limerick, PA and I am a car salesman. Last year my income was $90k and this year I am looking at $120k. The problem is I write off around 40 to 45% of my 1099 money. This means th...
Cash or Finance?
If you have $350k to buy a house and the house you want is worth $325k would you pay cash or finance a portion of it? I plan to make the property into an investment home while being a primary residence ...
Plan to make my first home purchase this year
For context, I am single in my early 30s and I want to make my first home purchase this new year. A lot of my friends are buying their first homes and I want to start building my portfolio as well. The ...
Payment dates for rental?
New house owner here and I am looking to house hack(rent out rooms in my home individually). I want to know how to set up payment dates. I was looking at month to month to begin with. Most of the rental...
Lack of multi family homes to house hack
I am a young stockbroker living in Syracuse NY and I have plans on moving to Huntsville AL in the coming year. I am single with some savings and steady income and I want to house hack when I move to Hun...
Syracuse, NY - Dec 21st 2021
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Newbie in rental business
I am a new investor in the rental arena and I want to know if banks allow for properties to be leased as vacation rentals? If there is a mortgage agreement already, what would stop owners from entering ...
Lenders who approve small loans
I own a one bedroom condo in Fort Myers Florida. The unit is fully paid and is earning rental income. My partner wants to sell her half for $50k which is a good deal given the market value of the proper...
Rental income gives me negative cash flow
My loan is under examination with a lender and they are looking at my existing rental income as part of computing my DTI. One of my rentals gives me $3200 monthly but my tax filing shows a negative cash...
Second quote consequences?
My family is applying for a VA home loan after some setbacks to our credit. We are pre-approved and our application is now with underwriters. We have an agent who works with us and he recommends that we...
Looking for fixed rate HELOC
I’m looking for a bank that offers fixed rate HELOCs. I have around $10k worth of equity in my property and would like to use a small sum to use on another property. What are the best steps to take?
Best time for closing?
Hi, I live in Wake Forest NC and I want to know if there is a best time of the month to close on a mortgage and why? Some say it is at the start or does it really matter? I heard that it is better to cl...
Buy property with low down
I want to buy land but I don’t have enough for a down payment. I don’t qualify for most loans due to no credit history. How can I buy and purchase property? I have enough income and some savings for...
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