Proof of income for self employed
I’ve been having problems with paying my mortgage lately since my business has taken a hit due to the pandemic. My bank called and they told me they were willing to forgive my mortgage payments which ...
My son wants to buy a studio unit near his workplace
It’s been decades since we’ve bought our current home in Texas and I want to know how long you should be employed before you can apply for a loan? My youngest son will be graduating from law school ...
High DTI applying for a loan
I am moving out of my parent’s house and I plan on buying my first home. I live in Maricopa County in Phoenix and I make $50k a year with a credit score of 714. I have a good credit report and I want ...
FHA loan for duplex
I live in New York and there’s a duplex available that’s near my office that’s up for sale. I plan to live in one half and rent the other to have additional income. Is an FHA loan the best option ...
How much down for FHA loan?
I live in Queens County NYC and I’m looking at an FHA loan to buy a single-family home that fits my budget. My preferred price range is between $275k to $300k. My Fico is 732 with an income of $102k. ...
Mortgage application with old bankruptcy
I have an old bankruptcy on my credit report and it’s nearing the 10th year since discharge back in 2012. Will this fall off my credit report automatically? My current credit score is between 720 and ...
Mortgage approval with fluctuating income
I know nothing about mortgages so I’m asking this. I moved from California to DC and while the properties here are a bit more affordable I don’t see myself retiring in Washington. I went on a trip t...
Stalled application process
We started a mortgage application process 3 months ago for a beautiful home worth $250k. The process has stalled due to “quality control” according to our lender. Closing was scheduled a few weeks a...
Sales agent having difficulty with mortgage application
I work in sales and I am a seasoned veteran with more than 10 years of experience under my belt. I have been earning base pay plus commissions regularly without any gaps in income in the past decade. My...
How much income do I need for loan approval?
I have been self-employed for the past 10 years and the business has been doing great. My family and I are planning to buy a multi-family apartment worth $3 million. We have no debts other than the curr...
Borrowing money from a friend for closing costs
I was ready to buy a condo with a conventional loan but I lacked the funds for closing costs which amounted to $4k. My money is tied up in stocks that I can’t liquidate in time and I am afraid that I ...
Single mom applying for FHA loan
I was approved for an FHA loan at 3.5% fixed for 30 years. My monthly payments would be $1,700 which is higher than I expected. I am a single mom and I’m not sure if I can afford the payments. I still...
Healthcare worker buying a home in Florida
I plan to buy a home in Florida next year. I’ve been working in the healthcare industry for 2 years now and I was told that I should work in the same industry for a longer period and make more money t...
Bank or Private Lender?
I am looking for a trusted lender in California that can offer low rates and closing costs. My credit score is 750, I have a car loan where I pay $300 a month and I can afford a 5% down payment for a n...
Apply for a new loan after refinance
Hi everyone, I just refinanced our home and we signed our closing docs already. We have not received our funds yet from the refinance and I plan to buy a car in a few days and I would like to know if a ...
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