My son wants to buy a studio unit near his workplace

It’s been decades since we’ve bought our current home in Texas and I want to know how long you should be employed before you can apply for a loan? My youngest son will be graduating from law school ...

High DTI applying for a loan

I am moving out of my parent’s house and I plan on buying my first home. I live in Maricopa County in Phoenix and I make $50k a year with a credit score of 714. I have a good credit report and I want ...

what types of infograpic is that

FHA loan for duplex

I live in New York and there’s a duplex available that’s near my office that’s up for sale. I plan to live in one half and rent the other to have additional income. Is an FHA loan the best option ...

How much down for FHA loan?

I live in Queens County NYC and I’m looking at an FHA loan to buy a single-family home that fits my budget. My preferred price range is between $275k to $300k. My Fico is 732 with an income of $102k. ...

Mortgage application with old bankruptcy

I have an old bankruptcy on my credit report and it’s nearing the 10th year since discharge back in 2012. Will this fall off my credit report automatically? My current credit score is between 720 and ...

Do I need a lawyer before I sign?

I live in Massachusetts and I just applied for a loan and have gotten approval and a final offer from an equity sharing loan company. The closing date is not definite and they become irritated when I st...

Mortgage approval with fluctuating income

I know nothing about mortgages so I’m asking this. I moved from California to DC and while the properties here are a bit more affordable I don’t see myself retiring in Washington. I went on a trip t...

Can a lender keep overpayments?

I am preparing for a refinance but an issue came up which led me to review the documents from my last refinance 2 years ago. My original lender gave a payoff quote good at a point in time over 2 weeks i...

Is 20% down required for a construction loan?

I live in Michigan and I am looking for a lender that can do a construction loan to a permanent loan with 10% down. After shopping around, the downpayment requirements should be 20%, is this accurate?

Stalled application process

We started a mortgage application process 3 months ago for a beautiful home worth $250k. The process has stalled due to “quality control” according to our lender. Closing was scheduled a few weeks a...

Small loan lender in Ohio

I live in Ohio and real estate developers are offering ready-to-move-in homes under $50k. A two-bedroom brick ranch home was listed at $40k but I couldn’t find a lender willing to approve a small amou...

Can we pay of mortgage from our savings?

My husband recently passed due to COVID-19 and I am looking to sell our current home to move to a smaller apartment that we can afford. Selling won’t get as much than we owe on the mortgage and we’d...

Applying for a loan with 500 credit score

I have been renting for the past 5 years and I would like to buy my own home to have something I can leave for my children. There’s a $150k apartment on the market but my problem is my credit score is...

Second closing payment?

My son just bought a new studio apartment and he was surprised when his lender asked him for an additional $15k for a second closing. This is the first time we heard about this and we want to know if th...