Can a lender get my home once I pass away?

I need funds for a home renovation and my wife suggested a reverse mortgage. I have pretty good equity on our home and it seems like a good idea since we don’t plan to move any time soon. I’m just w...

When is the best time to lock in rates?

We’ve signed a contract for a new construction which will be finished by April 2023 in Anaheim. I want to ask when is a good time to lock in rates and for how long? Is a prelock for 180 days a good id...

Are there loan products for gig workers out there?

I lost my job during the pandemic and I have been freelancing for the past year. I want to buy my first condo but I don’t have updated tax returns nor W2s. What are my options? Are there loan products...

Buying a new home and having my condo rented out

I bought a condo 3 years ago at $250k and currently owe around $150k. I can pay $50k towards the principal in the next 2 months and I want to buy a new home and have the condo rented out. Friends have s...

Can I get a loan as a senior?

I am 75 years old, happily married and in the peak of health. I was wondering if a lender would give me refinancing from a 30 year loan to a 15 year loan? My credit score is in the 800s but I’m worrie...

What payments are used in calculating DTI?

I am considering adding my phone bill, utilities and my cable bill to my credit report to boost my FICO score. Will lenders use all these payments to qualify me for a home purchase?

can fannie mae do an audit on a mortage almost a year later and tell mo...

can Fannie Mae audit a year later and have the mortage recinded

my son closed on the oct2022 and never miss a payment Now summit fundin...

Should I get pre-approved?

I'm buying in a hot market here in Michigan and the homes are selling pretty fast once they are placed on sale. I've lost out on a few offers and I was wondering if I should get pre-approval to give me ...

Are my calculations correct?

If my monthly payments are $827 a month and I want to pay off the loan faster, will paying $827 more towards the principal allowed me to pay off the loan in 10 years? The principal is $120k balance at $...

Do I need to put down 20%?

Is it really hard to get a mortgage for a second property? I’ve been trying to sell my current home but there are no takers so keeping it as a rental and buying a new home to live in is my next option...

Is getting a HELOC the best option?

I own a house worth $350k and it’s fully paid. I am self-employed earning $35k a year. I want to borrow against my home for a home renovation which would cost between $45k to $50k. I am 51 years old w...

Should I get a bridge loan?

I’m selling my primary home and looking to buy a new one. What is the best loan for my situation? My lender offered a bridge loan so that I would be able to purchase a new home and move in at once. Iâ...

Applying for a loan with multiple hard inquiries?

Can you get approved for a mortgage if you have numerous hard inquiries? I got a new car and have a couple of new credit cards. I got approved for a loan 3 months ago and I’m planning to apply again b...