can Fannie Mae audit a year later and have the mortage recinded

my son closed on the oct2022 and never miss a payment Now summit fundin...

Should I get pre-approved?

I'm buying in a hot market here in Michigan and the homes are selling pretty fast once they are placed on sale. I've lost out on a few offers and I was wondering if I should get pre-approval to give me ...

Are my calculations correct?

If my monthly payments are $827 a month and I want to pay off the loan faster, will paying $827 more towards the principal allowed me to pay off the loan in 10 years? The principal is $120k balance at $...

Do I need to put down 20%?

Is it really hard to get a mortgage for a second property? I’ve been trying to sell my current home but there are no takers so keeping it as a rental and buying a new home to live in is my next option...

Is getting a HELOC the best option?

I own a house worth $350k and it’s fully paid. I am self-employed earning $35k a year. I want to borrow against my home for a home renovation which would cost between $45k to $50k. I am 51 years old w...

Should I get a bridge loan?

I’m selling my primary home and looking to buy a new one. What is the best loan for my situation? My lender offered a bridge loan so that I would be able to purchase a new home and move in at once. Iâ...

Applying for a loan with multiple hard inquiries?

Can you get approved for a mortgage if you have numerous hard inquiries? I got a new car and have a couple of new credit cards. I got approved for a loan 3 months ago and I’m planning to apply again b...

Looking for lender with higher DTI requirement

My grandma passed and her home is being offered to me. I have a credit score of 580 and make around $90k a year. I get rejected when I apply for a loan since my DTI is high, are there lenders who offer ...

Planning to buy rental property and need financing

I have a fully renovated and rented project that I need to finance. The cost would be around $400k which I would use to expand and purchase more rental properties. I don’t have that many local lenders...

Looking to buy multi unit properties in PA

We are eyeing properties between 2 to10 doors where the lender will underwrite the key principle and property’s cash flow versus all LPs in the deal. Are there lenders in PA who would be willing to wo...

Investing in student housing

I have an opportunity to invest in student housing but my lender said they can’t do refinancing. I plan to purchase a multi unit property with cash rent it out to students and refinance so I can pull ...

Question about buying a second home

I have a question on buying a second home. How much income should I have to buy a second property worth $450k? I pay 2.5k monthly for my current mortgage and I’m not planning to have the first home re...

What are the rules on adding child support as income?

What are the rules on adding child support as income when applying for an FHA loan? Someone told me that for conventional loans you have 6 months of on-time payments and if it’s court-ordered. How abo...

Plan to use a VA for a new home

My girlfriend and I plan to buy our first home using a VA home loan. I have fair credit while my girlfriend has no credit history at all. We can afford a 5% down payment on a $250k home. What are our ch...