What are my options given high DTI?

As first-time homebuyers, my partner and I recently applied for a $365k home loan, but unfortunately, we were denied due to high DTI. Despite having credit scores ranging from the 600s to 700s and a joi...

Is it ok to defer one mortgage given my financial situation?

As a homeowner, I have a solid 6-year track record of making mortgage payments on time. However, I am currently experiencing some financial difficulties and am exploring the option of deferring one mort...

Home equity for a third property?

As a homeowner with two properties, I am considering the possibility of obtaining a home equity loan to fund the purchase of a third property while also completing some much-needed renovations on my fir...

What should I know about ARM before applying for one?

What should I know about adjustable rate mortgages before choosing one? I am considering an ARM as a way to save money on my monthly mortgage payments. However, I am concerned about the risks associated...

Can I get a loan with a low credit score?

How can I get a mortgage with a low credit score? I have had some financial setbacks in the past and my credit score is currently below average. However, I have a steady income and I am confident that I...

Are there risks associated with owning a second home?

What are my options for financing a second home purchase? I am interested in buying a vacation home in a popular tourist destination, but I'm not sure how to finance the purchase. Should I use a convent...

Pre- approval mortgage letter and paystub

I have been pre -approved letter for a mortgage loan, but I'm having some concerns about my pay stubs. I was preapproved on 4/11/23, I just found a house I want 05/09/23. My highest pay was 30 days prio...

How can I get lower rates?

How can I negotiate a better interest rate on my mortgage? I recently applied for a home loan and was offered an interest rate that was higher than I was hoping for. However, I have a strong credit scor...

Investment property vs. 2nd home purchase

If I want to buy a condo for my daughter to live in. What constitutes it an investment property or a second home. Is there a criteria for each ?Is there a difference in rate ? Tax difference? If I charg...

what happens if i owe more on my house than it is worth?

Green card holder applying for a loan

Looking to purchase a duplex that costs around $550k to $660k. We would stay in the other half and rent out the other for around $1800 a month. Our income goes up and down through the year, but the mini...

What kind of loan should I get for a farm?

I need a loan for a farm with a house. The farm business makes around $60k gross income annually. I don’t mind living in the farm if a lender requires it. The farm sells for $500k. What kind of loan s...

Is it a good idea to buy down rates?

My dream is to buy a home in CA, but the market is very competitive. I am a single parent with an income of $100k a year. I have low DTI, and credit is 710 to 720. I have enough for a 20% down so I can ...

What type of loan package is for me?

I am looking for a loan for a manufactured home. The home is in a park, was moved once but is in good condition. Price is $175k and I need to put down 10% What type of loan product is the best in my ...

Chances to buy a townhouse??

I plan to buy a townhome priced at $230,000 with an HOA of $300. I got pre-approval for a conventional loan. I have $60k saved up to put down and pay closing costs. I still have $20k of student loans I ...