Is 10% enough for a down payment??

My wife and I are empty nesters and we would love to buy a new studio apartment for ourselves. We want to know if a 10% down is enough to get approved for a loan. We are not in a hurry and we can save u...

Loan Application with no Credit Score

I live in Arizona and I’m planning to buy my first home. The problem is I don’t have a credit score. My agent told me not to worry because we can perform manual underwriting instead. Is this true fo...

Reverse Mortgage for Dream Vacation

I am enjoying retirement and I plan on going on a dream cruise around the world once the pandemic restrictions ease up. An agent recommended a reverse mortgage for funding my dream vacation and I’m ju...

Senior needing funds for expenses

I recently turned 62 and I am facing plenty of unexpected expenses like house repairs and healthcare services. I saw an ad on tv regarding reverse mortgages and I would like to know more about the loan....

Difficulty in Getting a Mortgage

I am in the process of completing a mortgage for a home we are buying within the year. I have an excellent credit score, am well paid, and have been with my employer for the past 10 years. I have no deb...

Refinancing a Small Amount

My wife and I bought a mobile home and used our land as the down payment. Our credit scores were in the high 500s and we agreed to an 8.99 rate over 23 years with plans to refinance once our credit scor...

Is it ok to co sign for a loan?

My best friend for the past 30 years has asked me to co-sign for a loan on a tiny home she wants to purchase. Her income has dropped since the pandemic and she can no longer afford to pay rent on her la...

FHA Loan Qualifications

Back in 2016, my home was foreclosed due to a nasty divorce I had to go through. Since then, I was able to rebuild my credit and I have an annual income of $300k. Monthly bills are $700 and I have a veh...

Agent wants me to falsify docs

A few years back, I encountered a loan officer at the bank who told me to falsify information on my application like not listing some debts that I have currently to get easier approval. I plan to purcha...

Buying a Home with Defective HVAC

I have my eye on a foreclosed property in my neighborhood but there are issues with the HVAC system. It’s obvious that an A/C compressor unit is nowhere to be found and I am not sure if the furnace is...

Low Down Payment Options?

My online business hit a snag during this pandemic which affected my decision to buy my new home. I would like to go on with the purchase but I don’t have enough for a 20% down payment. I am currently...

Are Online Lenders Any Good?

My wife and I are currently building our dream home with a reputable contractor and the house is going to be ready by the end of November. It’s possible to face delays in construction since there are ...

can the loan originator rescind a loan after it's been sold

sent in application for usda home loan. then it was sent to their specia...

Is Refinance a Good Idea?

I live in Florida and I am applying to refinance my current mortgage. I owe $ $226, 650 and I will refinance $224,000 with no cash out. Interest rate is at 1.875% with an APR of 2.394%. Total closing fe...