Underwriting questions
When a borrower applies for a new loan and does not disclose other properties he owns, what do underwriters do to see if you have other properties in the U.S.? I know that failing to disclose this is a ...
Looking for an 80% cash out refinance
I am looking for a lender who can provide an 80% cash out refinance. My son is going to college and I need the funds to support him. I've owned the property since 2008 and I was hoping to get the best d...
Can anyone recommend an FHA lender?
I've been working with a local lender for a month now and they don't seem to know how multifamily transactions work. I live in Detroit and was wondering if anyone could recommend an FHA lender who has e...
How to get a loan for investment properties?
My house is paid off and have a credit score of 800. I am self employed and make average money yearly. I only spend money if it's a tax write off so I have very little net income to show on my taxes by ...
Can I get a loan at 5%?
I used to own a house and sold it 5 years ago. I was wondering if I can still get a loan at 5% or is it just a first time thing? Are there programs for down payment assistance I can avail?
Applying for a loan as a couple
Can a married couple get a loan by filing joint? One has income without credit but the other has the credit history but no income? One spouse has 550 while the other 680. What impact will this have when...
How do I remove PMI without refinancing?
Can you remove private mortgage insurance without a refinance? I only owe $132k but my value has risen to $295k. I bought in 2019. Should I get an appraisal done to determine real value?
How loan should I wait before applying for a loan?
I just moved into my new house last month. I need serious money to pay off some debts like federal and state taxes and car notes. Should I wait 2 years before applying for a mortgage equity loan?
Low interest loan for lot purchase
Hi, I need advice if you guys can give me one. I am looking for a low-interest-rate lot loan. My husband and I are working with a loan office that was endorsed by the company that sold us the land. The ...
Why do most banks don't offer HELOCs?
I want to know if anyone has a good experience with HELOCs. I’m aware that most banks don’t offer HELOCs anymore and I just started doing research about it. Thanks in advance.
What is the max loan amount for an FHA loan?
I make about $45k gross each year. I have a good credit score of 680. As much as possible, I want to stay within my budget but at the same time, I want to know how far I could stretch it. What is the ma...
Loan with a huge downpayment, is it wise?
So, I was planning on taking out a mortgage with 70% down. The mortgage would be less than $100k. Is this a wise decision or not?
Is pre-approval state specific?
Hi guys, I wanted to ask if the pre-approval state is specific. The place I’ll be looking for a home in is like 10 miles from 3 other states. After getting pre-approved, do I have to commit to 1 state...
First time to hear about mortgage porting
Regarding mortgage porting, it’s my first time hearing about this concept. I assume it’s going to be popular among people who want to move, but also keep their existing mortgages. I was wondering if...
Over credited on our mortgage refinance
The day after my husband and I closed on our mortgage refinance, I received an email from my mortgage broker that indicated that I was “over-credited” lender credits because they were larger by a fe...
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