Investor with 2 bank accounts
I am a rental property investor in Arizona and I have a personal and business account. I only use my business account for the 4 rental properties I own so I know when money is coming in and out. I have ...
Do lenders consider rental income in your DTI?
I am purchasing an investment property that will be rented out. I am applying for a Freddie Mac backed mortgage and I want to know if the lender calculates the expected rental income into your DTI ratio...
Is there a way to lower title insurance?
Hi everyone, I am closing a mortgage and I have a question about title insurance. The contract specified that the seller agreed to buy owner’s title insurance. The title company said that the policy w...
Newbie investor needing advice
This is my first time to venture into real estate investing and I need your input. I live in the San Antonio area and I want to know how much I can borrow so I can determine how much I can spend on my f...
Home construction in Texas
I am building a home in the Austin area and I would love to get your insights. The purchase price of the home is $100k and I’ve paid $3k for earnest money and $2k for upgrades. Here are sample numbers...
Austin, TX - Dec 3rd 2021
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Retirement plans
We attended a party with friends and we talked about our plans to retire at 62, sell our home and move to CA. They said that it would be hard to get a mortgage without a job. We have no debts and income...
Fort Myers, FL - Dec 3rd 2021
This question has not yet been answered.
Broker fees too high?
I am applying for a $380K loan for a condo unit that I fell in love with after viewing the model unit recently. Closing costs run up to $5k and in a separate form it says the broker will receive a compe...
Nursing graduate applying for a loan
I’ll be graduating from nursing school next year and I plan to buy a new house. I’ve heard that 2 years full time in school is equal to a 2 year job history as long as you have a full time job after...
Is it a good idea to refinance?
We want to invest in AirBnB properties and we want to use equity in our primary residence for a mortgage cash out refinance. We have 4.25 years left on a 15 year loan at 2.75% interest with $140k remain...
Best buddies buying a property
My best buddy and I are buying a property together. He’ll be putting up the capital and my role is to get the cash flow coming in for monthly payments. I want to be in the title but not necessarily on...
Do grant programs take longer?
Hello everyone, I am a newbie in real estate investing and I plan to buy my first property which is a duplex in the San Bernardino area in CA. A loan officer approached me and I inquired about gov’t p...
Is buying points required?
A new home is available and I plan to buy it as an investment. It is a new construction and I am getting my loan through the builder. They told me that I have to purchase a minimum of 3 mortgage points ...
Chicago, IL - Dec 1st 2021
This question has not yet been answered.
Buying a second home in Boulder
I am buying a second home in Boulder. I own my first home and the loan is fully paid. I am ready to close this month but I need to pay a down payment of $12k for a roof replacement for my first home. Is...
Is refinancing a good idea?
I have a chance to refinance with an offer from my lender. From 3.25% to 2.625% and a 30 year term with 23 years left to a 20 year term. I still have $328k unpaid principal and will end up paying around...
Can I benefit from refinancing my home with an Interest Only loan?
Currently I have a 30 year fixed rate mortgage with a balance of $362,000 at a fixed rate of 2.375%. My home would appraise for approximately $500,000. I am retired and expect to sell our home within th...
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