Why does my FHA loan require a 20% down?
Can anyone answer why an FHA loan would need a 20% down on a loan that’s less than $300k? My DTI isn’t that high so I’m wondering why my lender would require such a high down payment.
Are inspections needed to close on a home?
Are inspections a requirement in order to close on a home? We have placed multiple offers on homes but keep getting beat by others waiving the appraisal and inspection. Isn’t waiving inspections a ris...
Can we get a cash out loan on a paid off house we inherited?
100% equity but not good credit. I would like to get a rental property and use the income to pay off loan & live on... is that possible with bad credit?
Planning to get a second FHA loan but got denied
I hit a roadblock with my FHA loan. I bought a single family in 2020 with an FHA and I am ready to buy my first multi-unit. I was told by underwriting that they can’t give me another FHA since I have ...
Can I refinance my closing costs?
Hello, so around 2 years ago, me and my wife got a 30 year fixed mortgage at 6%. Now that rates are very low I would like to refinance for either 15 or 20 years. I would like to refinance the closing co...
Is there a loan with lower DP?
Looking to get a mortgage for land. I got quotes for 50% down and 25% down. Are there any loans out there with a lower down? I plan on building an apartment on the land in a few years so that I’ll hav...
Should I go with a local lender?
First time homebuyer and I want to ask if Rocket Mortgage is any good? Are there programs available that can assist with a down payment? Friends say that a local lender is better and can close faster. I...
Looking for a loan with zero or low down
Are there lenders who offer loans with zero or low downpayment? I want to purchase my first home buy I don’t have enough saved for a 20% down payment. I have good credit and no debts. I have been work...
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...
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...
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 ...
Ask our community a question.
Get an answer
