Which is the smarter move?
I plan to buy my first studio type apartment in a few months and I am torn between paying off my student loans or use my savings toward a down payment. What move will give me a higher chance of getting ...
Clarity regarding the 28/36 rule
I need answers on the 28/36 rule, some say this is a myth and I want to get clarity on this once and for all. Once I sell my home I will be debt free. I prefer to go past the 28% front end and use all 3...
Seeking advice as a first time homebuyer
I am planning to buy a home at $250k. I have $15k in cash and another $15k that I can pull from my investments. Hoping to get a conventional loan at 3% down. Mid credit score is 660. I make $60k a year ...
Which loan product is best?
Hi, we are looking to buy a condo or townhouse in California worth $930k. I am shopping around for the best lender, loan type and rates before I lock in. This is my first time buying and I want to ask f...
Can I back out on my closed home deal?
I closed on a home last November 2022. During inspection I got a recommendation to get the foundation checked and the seller provided it at his cost. The inspection report showed no concerns regarding t...
What loan is best for me?
I'm looking to buy a home in 2024 and I know there are plenty of factors to consider. My credit score is in the low 700s DTI is 10% I can put down $20,000 I can pay at least $1,500 per month What type...
How can we get approval?
We need to refinance out of a credit line type hard money loan that doesn't have any seasoning. We have been rejected numerous times due to high DTI because of unforeseen expenses that we put on our cre...
What loan option is the best?
Plan to buy a home soon. Self employed with 810 FICO score, debts I pay is $300 per month with income of $120k a year. How much home can I afford? Do I apply for a bank statement loan or traditional one...
Still in underwriting, what should I do?
I applied for a loan with a local lender and in the process of underwriting. The entire ordeal has been a nightmare. I'm at a 6.6 rate but the market went down and they are refusing to go with the marke...
How long does it take to close a loan?
Hi, this is my first time applying for a mortgage and I want to know how long it takes to close on the loan. The house we are buying has plenty of offers and closing on the loan soonest would give us an...
DTI too high
I can't seem to qualify for mortgages and HELOCS. They say that my DTI is too high. I currently have $12k in mortgages and they are all covered with rental income. I have a cash flow of about 15% due to...
Investor looking for a lender who would take on a $48k loan
Hi, I am an investor with four rental properties currently and I would like to buy a home that's listed at $60k. My question is, are there lenders who would be interested in a $48k loan? I think the min...
Will I be denied in underwriting for an $8,000 cash deposit?
My husband and I had cash saved from our wedding gifts last year and when we signed our contract for a house, we deposited $8,000 cash in our account to go towards the escrow payment. I never thought an...
Can I buy a primary home given my situation?
I am legally married and own a home with my wife. I separated recently with my wife and I want to buy a house. Can I buy a primary home in Florida without my wife on the title? We are not legally separa...
Can I qualify for a loan with just a year of 1099 tax return?
Can I qualify for a mortgage with only a year of a 1099 tax return? The other year we have bank statements to prove our income. My husband has 2 work trucks that are financed in our names with personal ...
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