Buying a home this winter in New York
Hi, my husband and I are planning to buy a home this winter and we wanted to get feedback that can help. We are buying in the NY area with a budget of $600k while putting down between 3 to 5%. My husban...
My son wants to buy a home instead of renting
My son wants to buy a home instead of renting. He has $60k saved up for a down and he has a $90k a year inheritance for life. His grandfather closed a multi-million dollar deal and he gets paid the proc...
Which is better a cash out refinance or HELOC?
Hi, I want to buy a second home and plan to rent it our short term via AirBnB. My budget is $250k and we plan to use the property ourselves twice a year. There’s enough cash for a 30% down and I am co...
Would I encounter issues with the IRS if I buy my dad's property?
My dad has been wanting to sell his house to me at a very huge discount. The house is worth 5 times the price he is selling given its current condition and he has decided to let me have it. The home is ...
Prospective landlord thinking about renting out our property or selling
We own a primary home that we want to keep and rent out. Do we need to refinance our current home to buy another? We live in Georgia and we want to move to an area with more families and kids in the nei...
Transfer tax too high?
I am trying to convert my current HELOC into a loan for $140k. I noticed a transfer tax under closing cost amounting to $1,880. Is this charge accurate? I live in Maryland by the way. TIA!
Will the change from employment to independent contractor affect our mor...
My wife and I want to buy our first home this summer but he just got an offer for a new job with higher income. He’s going from a W2 to an independent contractor. If he accepts, would it affect our lo...
Buying a 2nd home after we bought our first with cash
We just bought a house and paid in cash. We now plan to buy a second home through financing. Will the 2nd home be counted as our first or second home? I didn’t declare the first home when I filed taxe...
Being ghosted by a lender should I look for a new one?
Been working with a lender on an FHA loan with 10% down since our scores are below 580. We’ve submitted all docs necessary and we haven’t received a call back from our lender. Should we look for ano...
Considering a USDA loan and other low dp options
Considering a USDA loan and have discussed details with the broker. Credit is not the best right now with 2 open accounts namely a car loan and credit card debt. Scores are around 620 to 650 range. I am...
Will 3 errors on my credit report affect my loan?
I plan to buy a studio unit in the next 6 months but I’ve got 3 errors on my credit report. I already applied for corrections and I was wondering how long before the corrections take effect. Should I ...
Should I buy down the rate?
We just got pre approved for a loan and got a $200k loan that was upgraded to $250k after paying off income tax. I asked for the rate we would be getting and the lender quoted 4.375% with the option of ...
Need help on how to proceed in my situation
I have no idea what type of loan I need. I have been renting to own with a contract to get my own mortgage this year for the remainder of what’s owed. The home is in my name and I pay the taxes. I hav...
Buying a second home with complications
Hi, I want to ask if it’s possible to buy a property as a primary home even if you do not work in the same state as the property? I work in New York and I’m buying in VA. My wife will live in the VA...
Can I roll closing costs via seller?
Currently closing on a house and appraisal came in higher than my offer. How do I roll some of my closing costs via the seller? Plan to tack at least $10k to the total loan amount.
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