Are commercial loans cheaper than residential?
I am eyeing a ten-unit complex and got a quote from a lender at 8.5%. I talked to a friend and he told me he was getting rates at 5.5%. The SFH market in our area has rates ranging from 6 to 7.5%. Is co...
Running out of options to fund our multi unit property
I just applied for a new construction loan with a local bank but they said that they don’t offer 10% construction loans for multi-unit or duplexes. We are building a duplex as our primary home and weâ...
Looking for a construction loan on a custom home
I am building a custom home in the FL area and we’re looking for a lender that can help with self-employed construction loans. We’ve been trying to find the best loan product but have not had much s...
Taking over a loan from someone else
We are taking over someone else's mortgage and we want to know the right process. Do I need to contact the lender and make the arrangements directly with them? What are the chances we'll get the same ra...
Trying to use a VA loan for a condo
Hi, my husband and I are currently negotiating a contract on our condo and the buyer will use a VA loan. We were told that our condo building is FHA approved but it’s not VA approved. His lender told ...
Looking for government grants that could help us buy our first home
I want to buy my first house. The house I’m interested in is only $100k. My wife and I make about $55k a year right now. Are there any government programs or government grants that will help us buy ou...
Is mortgage insurance and taxes included in mortgage payments
Is mortgage insurance and taxes included in mortgage payments
How can I increase my chances of approval for a loan?
This is my first time buying a home and I’d like to know what increases the chances of getting approved for a conventional loan? I’ve read that Income, Assets, Credit, and Debt are the foundations t...
Can I switch lenders since current one isn't communicating with me?
I am purchasing my first home which is a manufactured home that sits on land property. I am dealing with a not-so-great lender who has not been communicating with me. Locked in at 5.5% for a 30-year loa...
Trying to get a home improvement loan but my employer won't help with th...
I bought a gorgeous little bungalow that needs a little rehab. I left a little money for the repairs but it looks like I’m gonna need more. Am I correct in assuming that I won’t be able to get a hom...
Looking for a lender who does a HELOC
Is it possible to find a lender who can provide 90% LTV via HELOC? I plan to buy a rental property here in Washington. It’s a 4 unit multi-family that needs a little rehab. The market is hot where I a...
Are hard money loans any good for rehab?
Bought property in Davenport, Iowa last April 2022 for $20,000. I am rehabbing the place and I need funds because I didn’t expect it to cost $50k all in all. What are my options? Are hard money lender...
Planning to get a second FHA loan but got denied
I hit a roadblock with my FHA loan. I bought a single family in 2020 with an FHA and I am ready to buy my first multi-unit. I was told by underwriting that they can’t give me another FHA since I have ...
Is it ok to have 2 lenders checking rates for me?
I am purchasing a rental home and my agent referred me to 2 lenders. I will be getting rates from various sources. Is it ok to have 2 different lenders checking rates for me? Assuming they both need a h...
Can I find out how much home I can afford based on my salary?
I am planning on buying a home in the downtown Dallas area. I have great credit scores and only a car payment monthly on my credit reports. How much of a loan can I get with my $120k a year salary? I ha...
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