Do I need a broker to help with pre-qualifying?
I am in the process of getting pre-qualified for a loan as a first time investor. Do I need a mortgage broker to help me out? What are the advantages of having one? I need someone who can help me unders...
Banks won't approve a HELOC
I have an investment property that I want to do a HELOC on but most banks won’t approve because I don’t reside in the property. What are my chances with credit unions? I heard that they are more len...
Looking for lenders who provide 100% financing for BRRRR
Are there lenders who provide 100% financing for BRRRR in Florida? I’m trying to get my first investment property in a few weeks. I have talked with hard money lenders who offer loans with 10% down. I...
First time investor wants to know if a broker is needed
I am new to the real estate investment business and I am applying for pre-qualification. Do I need a mortgage broker for this? What are the advantages and disadvantages of getting one? Bank financing is...
What is an acceptable source for a gift for down payment?
Hi, this is Ana from CA. I want to know what is an acceptable source of a gift for down payment? I planned on using my ex-husband’s help so I can qualify for a conventional loan but was told by my len...
Cash out refinance after project completion
Hi everyone, I’m ready to spend $400k to turn a building I bought into a nice 6 unit apartment complete with individual water meters, sprinkler systems etc. I estimate rental income at $1650 each unit...
HELOC or DSCR?
I need advice on getting a HELOC or DSCR in my situation. I currently own a condo that is fully paid off and I want to get a loan on it to purchase a rental in Texas where my folks live. I am currently ...
BOUGHT A CAR
So I did something dumb and bought a car weeks out from my closing. It is a VA Home Loan and we make plenty of money. It took our DTI from 39% to 40%. They did not gross up for my wife's and I's VA D...
Closing a loan without tax transcripts, is it possible?
I am closing a loan in 2 days and found out that my lender needs tax transcripts. Unfortunately, my tax transcripts are not available. Is it possible to close the loan without them? My IRS returns for 2...
My Lender wants me to refinance my loan for a mistake they made
My original loan closed on 12/09/21. My Lender reached our sometime in February that they needed my help and wanted to refinance my loan over a mistake they made. After a few concerns I agreed to help a...
Is an FHA loan a good option?
I’m trying to get loan approval with scores at 640, 600, and 589. I have enough for a 10% down payment for a $200k home. Lender suggested an FHA loan with 3.5% down since they approve even with scores...
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...
Are non qm loans any good?
Are non-QM loans a good option? Do they charge higher down payment and closing costs? I’ve been trying to look for lenders but I am having a hard time finding one. I can provide more than 2 years of b...
Should I buy in cash?
I can afford to pay for a new home in cash but with the interest rates lower than usual I considered a $200k loan. Now I am looking at 5% and I am leaning towards cash. I would have little savings left ...
Having a hard time getting an FHA loan
Hi, my name is John, 25 years old and looking to purchase my first property. I am having a hard time getting approved for an FHA loan though. I work as an electrician through a staffing agency to work o...
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