Looking for lender with higher DTI requirement
My grandma passed and her home is being offered to me. I have a credit score of 580 and make around $90k a year. I get rejected when I apply for a loan since my DTI is high, are there lenders who offer ...
Planning to buy rental property and need financing
I have a fully renovated and rented project that I need to finance. The cost would be around $400k which I would use to expand and purchase more rental properties. I don’t have that many local lenders...
Bakersfield, CA - Aug 16th 2022
This question has not yet been answered.
Looking to buy multi unit properties in PA
We are eyeing properties between 2 to10 doors where the lender will underwrite the key principle and property’s cash flow versus all LPs in the deal. Are there lenders in PA who would be willing to wo...
Beaver Springs, PA - Aug 16th 2022
This question has not yet been answered.
Investing in student housing
I have an opportunity to invest in student housing but my lender said they can’t do refinancing. I plan to purchase a multi unit property with cash rent it out to students and refinance so I can pull ...
Question about buying a second home
I have a question on buying a second home. How much income should I have to buy a second property worth $450k? I pay 2.5k monthly for my current mortgage and I’m not planning to have the first home re...
What are the rules on adding child support as income?
What are the rules on adding child support as income when applying for an FHA loan? Someone told me that for conventional loans you have 6 months of on-time payments and if it’s court-ordered. How abo...
Plan to use a VA for a new home
My girlfriend and I plan to buy our first home using a VA home loan. I have fair credit while my girlfriend has no credit history at all. We can afford a 5% down payment on a $250k home. What are our ch...
Which mortgage lender to choose?
We are currently choosing mortgage lenders and we want to know which is better? We are currently with Rocket Mortgage but we are open to credit unions, bank, broker or private lender. We are buying with...
How do I avoid PMI?
If I purchase a house worth $135k but the appraised value is at $175k what is the basis for the 20% down so that I can avoid paying for PMI? I’ve saved up enough for a down payment with PMI avoidance ...
Can I get a home equity loan on my parent's farm?
Is it possible to get a home equity loan on my parent's farm to pay for my dad's nursing home and fix the house and turn into a rental? My mom died and I am an only child with POA. The farm is 32 acres.
Do I choose a local lender over Rocket Mortgage?
First time buyer here and I have no idea how to start. I've heard about Rocket Mortgage but some say it would be better to deal with a local lender. I am buying the house I am living in, equity will be ...
Arlington, AZ - Aug 10th 2022
3 answers
- Latest answer by
Bob Heidrich | Equal Housing Lender
Apr 8th 2024
Buying a vacation home in Michigan
I want to ask about the smartest way to purchase a vacation home? We have no debt except a current mortgage which is a 15 year oan at 2.75%. I pay $2,050 per month. Credit score is 770 and I have around...
No work during COVID and having a hard time getting a loan
What are our options? We have been applying for a mortgage but to no avail. We worked in the restaurant industry during the pandemic and we didn't have work from March 2020 to Jan 2021. This scenario ha...
Buying property out of state
We plan to buy an investment property in Arkansas and we have questions. Is it normal to charge a loan fee on top of the loan? A lender is asking for a $3k fee for a 20% down payment. Do we have to deal...
Should I buy my ex out from our joint mortgage?
I need advice regarding my situation with my ex. We got a joint interest mortgage 10 years ago but we split a few years after. We decided that he would pay for the loan and we would consider that his su...
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