Can the bank of a default loan take the other person ooff title knowing ...

Buying a 2nd home after we bought our first with cash

We just bought a house and paid in cash. We now plan to buy a second home through financing. Will the 2nd home be counted as our first or second home? I didn’t declare the first home when I filed taxe...

Will the change from employment to independent contractor affect our mor...

My wife and I want to buy our first home this summer but he just got an offer for a new job with higher income. He’s going from a W2 to an independent contractor. If he accepts, would it affect our lo...

Transfer tax too high?

I am trying to convert my current HELOC into a loan for $140k. I noticed a transfer tax under closing cost amounting to $1,880. Is this charge accurate? I live in Maryland by the way. TIA!

Prospective landlord thinking about renting out our property or selling

We own a primary home that we want to keep and rent out. Do we need to refinance our current home to buy another? We live in Georgia and we want to move to an area with more families and kids in the nei...

Would I encounter issues with the IRS if I buy my dad's property?

My dad has been wanting to sell his house to me at a very huge discount. The house is worth 5 times the price he is selling given its current condition and he has decided to let me have it. The home is ...

Which is better a cash out refinance or HELOC?

Hi, I want to buy a second home and plan to rent it our short term via AirBnB. My budget is $250k and we plan to use the property ourselves twice a year. There’s enough cash for a 30% down and I am co...

Buying a home this winter in New York

Hi, my husband and I are planning to buy a home this winter and we wanted to get feedback that can help. We are buying in the NY area with a budget of $600k while putting down between 3 to 5%. My husban...

My son wants to buy a home instead of renting

My son wants to buy a home instead of renting. He has $60k saved up for a down and he has a $90k a year inheritance for life. His grandfather closed a multi-million dollar deal and he gets paid the proc...

Do we wait until our loan is paid off completely?

My wife and I are planning to buy a home in a year. We are waiting to pay off a personal loan we took out around 2 years ago before applying for a loan since it takes a big chunk of our DTI. Can we pre-...

Are non qm loans any good?

Are non-QM loans a good option? Do they charge higher down payment and closing costs? I’ve been trying to look for lenders but I am having a hard time finding one. I can provide more than 2 years of b...

Should I buy in cash?

I can afford to pay for a new home in cash but with the interest rates lower than usual I considered a $200k loan. Now I am looking at 5% and I am leaning towards cash. I would have little savings left ...

HELOC or year fixed mortgage?

I have a HELOC on my home with a balance of $110k. It is set to the prime rate and it will adjust as soon as the rate moves. Right now it is 3.5% as it increased by .25 earlier this year. I still have 1...

Getting a condo with an FHA loan and HELOC

I recently refinanced out of my FHA on my first property. I was hoping to get a 2nd condo with an FHA loan and using a HELOC from my first property, is this possible?

Having a hard time getting an FHA loan

Hi, my name is John, 25 years old and looking to purchase my first property. I am having a hard time getting approved for an FHA loan though. I work as an electrician through a staffing agency to work o...