What are my chances of gettting approved?
I own a cleaning business since this was in demand during the pandemic. Being self employed, would this hurt my chances of getting a loan? I've been renting for the past 20 years and I believe it's time...
Is it a good time to get a loan now?
With interest rates this high, is it ideal to get a loan or do I wait until rates go low? There's a studio unit that's available and the owner is leaving soon. He's giving me a great deal and I can't wa...
Aliso Viejo, CA - Feb 15th 2023
This question has not yet been answered.
I need inputs on a situation involving an FHA borrower
I have a question about a situation with an FHA borrower. The borrower is moving less than 100 miles from their current primary residence which they own outright. Their home is a three unit family home ...
Owosso, MI - Feb 13th 2023
This question has not yet been answered.
Getting an FHA loan with the following scenario
I own a primary home and I've been living in it for over 2 and a half years. I have a conventional loan on this property. My mom wants to buy a new primary home as she sells her mobile home. To help her...
Alameda, CA - Feb 13th 2023
This question has not yet been answered.
Can a letter from an employer help get loan approval?
I am on W2 status for the past 11 years and my wife recently changed to 1099 a year ago. Despite the change my wife still receives the same monthly salary as before. We both have a credit score of 800 a...
Planning to buy a new home in Florida
I am eyeing a home in Florida worth $19M in a desirable subdivision. Am wondering if FHA lenders will allow closing costs to be rolled into the mortgage? My credit score is 640 so I am leaning toward...
Is it still a wise move to buy a new home?
I think I am getting closer to buying a home but I'm still on the fence. My score is 620 and credit is under repair. I have a lower payment on my student loans and my salary is quite low. I am looking ...
Do I need two years employment to get a loan?
Working as a computer analyst now and I plan to switch to a career in sales. If I pursue this do I still need two years at the same company? What if I change companies but have the same income? I'm al...
What type of lender would take on this type of asset?
I have a property under contract which is a dorm style apartment with 15 bedrooms and 10 bathrooms including shared space for cooking and dining. I'm having a hard time financing and I want to know if i...
What are my options as a first time loan applicant?
Hi, I live in LA and I am excited to apply for my first mortgage. I have plenty of questions like what are the requirements and documents I need to submit? How about the current interest rates and the f...
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
This question has not yet been answered.
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...
Ask our community a question.
Get an answer
Related Questions
