Will 3 errors on my credit report affect my loan?
I plan to buy a studio unit in the next 6 months but I’ve got 3 errors on my credit report. I already applied for corrections and I was wondering how long before the corrections take effect. Should I ...
Buying a 2nd home after we bought our first with cash
We just bought a house and paid in cash. We now plan to buy a second home through financing. Will the 2nd home be counted as our first or second home? I didn’t declare the first home when I filed taxe...
Transfer tax too high?
I am trying to convert my current HELOC into a loan for $140k. I noticed a transfer tax under closing cost amounting to $1,880. Is this charge accurate? I live in Maryland by the way. TIA!
Prospective landlord thinking about renting out our property or selling
We own a primary home that we want to keep and rent out. Do we need to refinance our current home to buy another? We live in Georgia and we want to move to an area with more families and kids in the nei...
Would I encounter issues with the IRS if I buy my dad's property?
My dad has been wanting to sell his house to me at a very huge discount. The house is worth 5 times the price he is selling given its current condition and he has decided to let me have it. The home is ...
Which is better a cash out refinance or HELOC?
Hi, I want to buy a second home and plan to rent it our short term via AirBnB. My budget is $250k and we plan to use the property ourselves twice a year. There’s enough cash for a 30% down and I am co...
Buying a home this winter in New York
Hi, my husband and I are planning to buy a home this winter and we wanted to get feedback that can help. We are buying in the NY area with a budget of $600k while putting down between 3 to 5%. My husban...
My son wants to buy a home instead of renting
My son wants to buy a home instead of renting. He has $60k saved up for a down and he has a $90k a year inheritance for life. His grandfather closed a multi-million dollar deal and he gets paid the proc...
HELOC or year fixed mortgage?
I have a HELOC on my home with a balance of $110k. It is set to the prime rate and it will adjust as soon as the rate moves. Right now it is 3.5% as it increased by .25 earlier this year. I still have 1...
Do I move forward or not?
To start my REI career, a HELOC with my credit union is an option. My credit scores are not the best (675/685) and I had some financial downfalls before but no bankruptcies. I want a fixed rate loan and...
Can I use my rental income as qualifying income on a new loan?
I have a primary home and a rental currently. I bought my primary residence a few months ago with an FHA loan. It’s a 5 bedroom SFH where I rent out 4 of the bedrooms. Can I use this as qualifying inc...
Lender wants me to buy points to close a loan
This is my 3rd loan with this lender and I have a week to go before closing. My loan estimate has a $5k fee for a 6% but no rate lock. Lender is pushing me to buy points to close the deal, what are my o...
First time investor needing advice
Are there lenders who will take on 100% financing based on a property's cash flow? I don’t have extra funds for a down payment and I am currently working my way out of debt. This will be my first inve...
Surprised to see additions to my loan principal after forbearance
I used to be in a Covid forbearance program and I am now able to resume payments. The lender sent paperwork and loan modification and I don’t understand why there are escrow payments and a $20k junior...
Looking for lender who would take on commission based income
I live in Idaho and am looking to buy a home. I’ve been having difficulty getting approved since I’ve been with the same company for over two years but I was switched to a new position and have been...
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