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...
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 ...
Hard money or construction loan? Which is better?
My mortgage broker told me that the builder gets paid directly through the mortgage company and will need to approve all the decisions on where the money goes to the house and paying the builder. Is th...
I have no knowledge about mortgages and I need help
I am a single mom and first time homeowner. My mom passed and left her modular home and 1.5 acre land to me. Loan is still under her name but deed has my name on it. My scores are under 600 I owe cl...
My broker is asking for information 1 year after closing
We closed on our mortgage in April, 2022. At the time my husband was paying child support that was disclosed and appeared on all his paystubs. Underwriting apparently missed this bit of information and...
Buy a home or rent?
Hi, I'm thinking about paying a mortgage instead of renting and I am now actively looking for a home. I do have financial problems but I'm tired of renting and not feeling secure about not having a ho...
What type of loan should we get?
We live in the heart of sunny Southern California, we find ourselves in a bit of a pickle. Despite having a comfortable nest egg nestled in the value of our home - currently appraised at a cool $1.9 m...
Is this rate ok?
My credit score is 804 and I'm applying for a conventional loan. Loan amount: 350,000 Purchase price: 400,000 Interest Rate: 6.490% Term: 360 months Down payment: $40k My agent suggest to go with this...
Question on conventional loan
Hi, I plan to convert my primary home into an investment property and buy a new primary home. I have another property where my parents stay. Do I need to have reserves for my current home and the pro...
Quoted high appraisal fees, will it be credited during closing?
My lender charged $600 for an appraisal but upon checking the actual cost is only $500. Are they required by law to refund the difference? I was hoping they could send a check or at least credit the am...
What are my chances of gettting approved?
I own a cleaning business since this was in demand during the pandemic. Being self employed, would this hurt my chances of getting a loan? I've been renting for the past 20 years and I believe it's time...
Can a letter from an employer help get loan approval?
I am on W2 status for the past 11 years and my wife recently changed to 1099 a year ago. Despite the change my wife still receives the same monthly salary as before. We both have a credit score of 800 a...
Planning to buy a new home in Florida
I am eyeing a home in Florida worth $19M in a desirable subdivision. Am wondering if FHA lenders will allow closing costs to be rolled into the mortgage? My credit score is 640 so I am leaning toward...
What type of lender would take on this type of asset?
I have a property under contract which is a dorm style apartment with 15 bedrooms and 10 bathrooms including shared space for cooking and dining. I'm having a hard time financing and I want to know if i...
Can I add my self employment income when applying for a loan?
I am a W2 employee but I also started a self employment gig during the pandemic. When things went back to normal my income on the business went down significantly. I have 2 years worth of income on my s...
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