FHA loan for duplex
I live in New York and there’s a duplex available that’s near my office that’s up for sale. I plan to live in one half and rent the other to have additional income. Is an FHA loan the best option ...
How much down for FHA loan?
I live in Queens County NYC and I’m looking at an FHA loan to buy a single-family home that fits my budget. My preferred price range is between $275k to $300k. My Fico is 732 with an income of $102k. ...
Mortgage application with old bankruptcy
I have an old bankruptcy on my credit report and it’s nearing the 10th year since discharge back in 2012. Will this fall off my credit report automatically? My current credit score is between 720 and ...
Do I need a lawyer before I sign?
I live in Massachusetts and I just applied for a loan and have gotten approval and a final offer from an equity sharing loan company. The closing date is not definite and they become irritated when I st...
Greenfield, MA - Nov 16th 2021
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Mortgage approval with fluctuating income
I know nothing about mortgages so I’m asking this. I moved from California to DC and while the properties here are a bit more affordable I don’t see myself retiring in Washington. I went on a trip t...
Can a lender keep overpayments?
I am preparing for a refinance but an issue came up which led me to review the documents from my last refinance 2 years ago. My original lender gave a payoff quote good at a point in time over 2 weeks i...
Agoura Hills, CA - Nov 16th 2021
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Is 20% down required for a construction loan?
I live in Michigan and I am looking for a lender that can do a construction loan to a permanent loan with 10% down. After shopping around, the downpayment requirements should be 20%, is this accurate?
Detroit, MI - Nov 15th 2021
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Stalled application process
We started a mortgage application process 3 months ago for a beautiful home worth $250k. The process has stalled due to “quality control” according to our lender. Closing was scheduled a few weeks a...
Small loan lender in Ohio
I live in Ohio and real estate developers are offering ready-to-move-in homes under $50k. A two-bedroom brick ranch home was listed at $40k but I couldn’t find a lender willing to approve a small amou...
Akron, OH - Nov 15th 2021
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Can we pay of mortgage from our savings?
My husband recently passed due to COVID-19 and I am looking to sell our current home to move to a smaller apartment that we can afford. Selling won’t get as much than we owe on the mortgage and we’d...
Alameda, CA - Nov 12th 2021
This question has not yet been answered.
Applying for a loan with 500 credit score
I have been renting for the past 5 years and I would like to buy my own home to have something I can leave for my children. There’s a $150k apartment on the market but my problem is my credit score is...
Bloomfield, CT - Nov 12th 2021
This question has not yet been answered.
Second closing payment?
My son just bought a new studio apartment and he was surprised when his lender asked him for an additional $15k for a second closing. This is the first time we heard about this and we want to know if th...
Forrest City, AR - Nov 12th 2021
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Sales agent having difficulty with mortgage application
I work in sales and I am a seasoned veteran with more than 10 years of experience under my belt. I have been earning base pay plus commissions regularly without any gaps in income in the past decade. My...
What loan to get with salary of $120k?
There’s a property in our neighborhood that an elderly couple offered to me at a very low price. They are moving to another state to be closer to their grandkids. The home was appraised at $150,000 an...
Newbie buyer with 100k down payment
Newbie buyer here applying for a $200k mortgage for a $350k property with $100k on hand for a down payment. I have a car loan at $350 a month that has a few months left to fully pay. I tried an online c...
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