Which mortgage lender to choose?
We are currently choosing mortgage lenders and we want to know which is better? We are currently with Rocket Mortgage but we are open to credit unions, bank, broker or private lender. We are buying with...
How do I avoid PMI?
If I purchase a house worth $135k but the appraised value is at $175k what is the basis for the 20% down so that I can avoid paying for PMI? I’ve saved up enough for a down payment with PMI avoidance ...
Can I get a home equity loan on my parent's farm?
Is it possible to get a home equity loan on my parent's farm to pay for my dad's nursing home and fix the house and turn into a rental? My mom died and I am an only child with POA. The farm is 32 acres.
Do I choose a local lender over Rocket Mortgage?
First time buyer here and I have no idea how to start. I've heard about Rocket Mortgage but some say it would be better to deal with a local lender. I am buying the house I am living in, equity will be ...
Arlington, AZ - Aug 10th 2022
3 answers
- Latest answer by
Bob Heidrich | Equal Housing Lender
Apr 8th 2024
Buying a vacation home in Michigan
I want to ask about the smartest way to purchase a vacation home? We have no debt except a current mortgage which is a 15 year oan at 2.75%. I pay $2,050 per month. Credit score is 770 and I have around...
No work during COVID and having a hard time getting a loan
What are our options? We have been applying for a mortgage but to no avail. We worked in the restaurant industry during the pandemic and we didn't have work from March 2020 to Jan 2021. This scenario ha...
Buying property out of state
We plan to buy an investment property in Arkansas and we have questions. Is it normal to charge a loan fee on top of the loan? A lender is asking for a $3k fee for a 20% down payment. Do we have to deal...
Should I buy my ex out from our joint mortgage?
I need advice regarding my situation with my ex. We got a joint interest mortgage 10 years ago but we split a few years after. We decided that he would pay for the loan and we would consider that his su...
Are inspections needed to close on a home?
Are inspections a requirement in order to close on a home? We have placed multiple offers on homes but keep getting beat by others waiving the appraisal and inspection. Isn’t waiving inspections a ris...
Question about a reverse mortgage
My parents have a reverse mortgage and they plan to sell their home. Will they get the equity if there is extra money made on the sale? Will the lender get the money above the mortgage payoff? TIA!
A 1099 employee who want to apply for a loan
I am a 1099 employee and I have been trying to buy a home but I keep on encountering problems with lenders. I have many deductions on our taxes which makes my income look very low. Would it help if I ta...
Can we get a cash out loan on a paid off house we inherited?
100% equity but not good credit. I would like to get a rental property and use the income to pay off loan & live on... is that possible with bad credit?
I have an issue with gift donation for my FHA loan
Hi guys, I have a question about the verification of a gift donation for my FHA loan. My father gave me a gift of $5,500 for closing costs, and he gave me the money in cash, now my lender told me that t...
Aliso Viejo, CA - Aug 4th 2022
This question has not yet been answered.
Can I modify my loan to lower payments?
I don’t want to refinance my house, so I was planning on lowering my payments by modifying my existing loan. Do you guys have any experience with modifying a loan before? Is it worth it?
Got lending disclosure packet with zip code wrong
Hi everyone, I recently got the truth in the lending disclosure packet from my lender, while I was inspecting it I noticed that the zip code of the house was incorrect. I told my lender that it was wron...
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