What are costs associated with loans?
I plan to apply for a USDA loan but I’ve heard that when you pay off the loan it is not over. You have to pay thousands on top of the loan you paid off, is this true? I am not familiar with all the co...
Discovery Bay, CA - Jan 27th 2022
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Applied for USDA but got an FHA instead
Income is $50k with scores at 690, 727, and 699. I have student loans and credit cards while DTI is minimal. I applied for a USDA but was only approved for an FHA at $250k due to low credit. How did thi...
Conventional loan after FHA loan
Can I refinance with a credit score of 640 and DTI of 42%? I bought my home for $300k and it’s worth $400k today. I earned $69k a year for two years straight and I have been employed here for 5 years ...
Idaho City, ID - Jan 26th 2022
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Need a second home for bigger space
Hello, I have an FHA mortgage on my primary home and I’ve lived in it for the past 6 years. I plan on getting a second home and I want to know what kind of mortgage is best in my situation? I plan on ...
Lake City, CO - Jan 26th 2022
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Cash refinance questions
I talked with my lender to inquire about a cash out refinance. They asked what it was for and I told them it was for debt consolidation. He ran our credit and came back and told me that I was approved a...
Loan application with income coming from own business
We are looking to buy land soon and would like to know what would a lender consider my income to be when my wife and I own a business? Our net profit for this year is $260k.
Will paying off my house hurt my scores?
My wife and I are planning to build a new home. We are selling our home but we have enough to pay it off now. I was thinking of paying just a chunk down on it to lower interest, last month's interest wa...
Debt payoff questions
Hi everyone, I have a question on mortgage approvals and debt payoff. I am currently in a revolving debt of around $50k with credit utilization of around 90%, zero late payments and scores are 750s. I p...
Need help with my loan application
I sold my house last year and made $5k profit. Since then, I’ve had late payments and a car repo that I need to start a payment plan for on a settled offer. Current scores are 549, 529, and 472. I wor...
Self employed applying for a loan
My family fell in love with a mobile home across town that is listed for sale at $90k with $500 a month lot rent. We have around $50k saved and we would love to buy the home and turn it into a rental. W...
Can a lender change the points after you've locked a rate?
For my $495K refi, my lender changed the points from $1,300 that was in the rate I LOCKED, to $6,000. They said that it's because I estimated my home value at $1.3M and the appraisal came in at $1.25M...
Change of plans after buying a new construction home
I signed a purchase contract a few months ago to buy a new construction single family home. The house was delayed in construction and many things have happened since then. We had a newborn in the family...
Closing costs average?
Hi, I want to ask about a good average percentage for closing costs on a commercial loan? I am paying more than 3 to 6% which seems pretty high for me.
Low down payment options
Is anyone familiar with requirements for conventional loans with a 5% down? I know lenders can offer different rules and I want to get a general idea of how this works. I have an FHA loan for a duplex w...
House hack plans, how to choose best lender?
Any pointers on how to choose lenders? I’ve been talking with a local lender and we’ve had a pretty good back and forth convo on a home loan. If other lenders would only offer similar products, I am...
Clayton, DE - Jan 20th 2022
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