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...
Looking for a lender who can help with a 2nd mortgage
I have a home but my uncle lives there and pays the mortgage. I want to get a second mortgage so I can have my own home but this first loan is giving me a hard time getting approval on the 2nd loan. Is ...
Can I use equity as collateral?
I have two deeds to two properties in my name and I plan on building a small apartment on my first property. Can I use the equity in my property as collateral for a construction loan? How does this work...
What are my refinancing options?
Our current rate is 3.75% and refinancing at this point would seem ridiculous. I've been hearing that a HELOC would be the best option given our scores of 662, 639, and 614. A personal loan is also bei...
What are other ways to use substantial equity?
I've built enough equity on my current home and I am looking for ways to use it wisely. Do I get a cash out refinance or pull a HELOC? Can equity be used as collateral instead of having a second lien on...
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