Can I add my self employment income when applying for a loan?
I am a W2 employee but I also started a self employment gig during the pandemic. When things went back to normal my income on the business went down significantly. I have 2 years worth of income on my s...
Update my info
I am a lender and my information on here is incorrect. How do I contact someone to update?
CA - Feb 2nd 2023
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Looking for a lender who can help with a 2nd mortgage
I have a home but my uncle lives there and pays the mortgage. I want to get a second mortgage so I can have my own home but this first loan is giving me a hard time getting approval on the 2nd loan. Is ...
I want to buy a rental property in my name only
I plan to buy a rental in my name only without my wife. She makes $250k a year while I make $150k and self employed We both have our names on the home now with a $500k mortgage. We currently have a ca...
Maricopa, AZ - Feb 1st 2023
3 answers
- Latest answer by
Bob Heidrich | Equal Housing Lender
Apr 9th 2024
Can I use equity as collateral?
I have two deeds to two properties in my name and I plan on building a small apartment on my first property. Can I use the equity in my property as collateral for a construction loan? How does this work...
Is a HELOC the best move?
I am planning to refinance a current loan because I need the funds for debt consolidation. Closing costs will be $30k and it seems like its not worth it. A HELOC would have been a good idea but my sco...
What are the rules on getting a second FHA loan?
An offer was made for a charming little bungalow that's great for a retirement home. It's located in the neighborhood where I grew up and settling down there would be a dream come true. My question is ...
What are my refinancing options?
Our current rate is 3.75% and refinancing at this point would seem ridiculous. I've been hearing that a HELOC would be the best option given our scores of 662, 639, and 614. A personal loan is also bei...
What mortgage is best for us?
We live in Denver and are renting currently. We plan to buy a home worth $375 to $400k. My score is 650 while wife is at 625. Our income is $180k a year and DTI of 39%. Cash assets of $4,000 Our scor...
Question about assumable mortgages
Anyone familiar with assumable mortgages? I'm exploring all my options of joint ownership with an ex. We aren't married but own the home. I am trying to buy him out first if not then sell the home. I di...
Apple Valley, CA - Jan 25th 2023
This question has not yet been answered.
Should we let the house foreclose?
My in laws are having problems with their loan. They still owe a lot on the remaining balance and they still have 12 years to pay off the loan. The home is under my husbands name but his mom is co-signe...
What are other ways to use substantial equity?
I've built enough equity on my current home and I am looking for ways to use it wisely. Do I get a cash out refinance or pull a HELOC? Can equity be used as collateral instead of having a second lien on...
Are super jumbo loans the best option?
I am selling my home to buy my dream luxury home soon. I am buying in an expensive location and was wondering if a super jumbo loan is the best option for me. My current home is on the market for $19M a...
Can I add my self employment income to our mortgage application?
My wife and I are both W2 earners. I have a side gig that used to be full time in 2021 but sales have gone down 50% so I had to go back to employment. I have 2 years worth of tax returns on my business ...
I need clarification with my plans to do a HELOC on my home
I've been getting conflicting advice and I want to get clarity on the matter. I bought a home in 2021 but it was too small coz my family got bigger. We moved out and my wife ended up buying another hom...
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