Lender won't approve due to tenure despite lockdown
My husband and I worked in the same casino for a decade. We have never been late on payments with credit scores between 780 and 820. We owe less than $2k on credit cards and no car loans. We tried apply...
Will I have issues during closing?
Hello, my wife and I are closing a house in two weeks. We’re debt-free except for an Amex which we pay in full monthly. The loan processor contacted us 2 days ago and told us that the underwriter want...
I have a question regarding balloon mortgage
Hi everyone, I have a question regarding balloon mortgage. Is a mobile home on its own land qualified for balloon mortgages? And what are the benefits and disadvantages of having a 5-7 year balloon mort...
Fort Myers, FL - Jul 21st 2022
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Can a lender help me rebuild my credit?
I’m currently trying to rebuild my credit, I have not missed a payment or had any new collections in the past 12 months and I only have a few lines of credit as of now. I plan on buying a house a year...
Lender rejected loan due to low appraisal
My client's private lender informed her that they did not approve her loan because of a low appraisal. I didn’t know that this would happen since it wasn’t mentioned to me and my client back then, n...
Hubby lost his job as we near closing on a house
My husband and I are in the process of purchasing a house but my husband lost his job and we thought that the lenders might consider it a deal breaker. But, my lender informed me that they will move for...
Can someone transfer a loan to a family member?
Hello everyone, my client needs to get rid of their car loan as soon as possible. She has about $35k and before the clear, her underwriter advised that she needs to get that debt off her credit. What is...
Arlington, IN - Jul 20th 2022
This question has not yet been answered.
Are commercial loans cheaper than residential?
I am eyeing a ten-unit complex and got a quote from a lender at 8.5%. I talked to a friend and he told me he was getting rates at 5.5%. The SFH market in our area has rates ranging from 6 to 7.5%. Is co...
Running out of options to fund our multi unit property
I just applied for a new construction loan with a local bank but they said that they don’t offer 10% construction loans for multi-unit or duplexes. We are building a duplex as our primary home and weâ...
Looking for a construction loan on a custom home
I am building a custom home in the FL area and we’re looking for a lender that can help with self-employed construction loans. We’ve been trying to find the best loan product but have not had much s...
Taking over a loan from someone else
We are taking over someone else's mortgage and we want to know the right process. Do I need to contact the lender and make the arrangements directly with them? What are the chances we'll get the same ra...
Trying to use a VA loan for a condo
Hi, my husband and I are currently negotiating a contract on our condo and the buyer will use a VA loan. We were told that our condo building is FHA approved but it’s not VA approved. His lender told ...
Looking for government grants that could help us buy our first home
I want to buy my first house. The house I’m interested in is only $100k. My wife and I make about $55k a year right now. Are there any government programs or government grants that will help us buy ou...
Is mortgage insurance and taxes included in mortgage payments
Is mortgage insurance and taxes included in mortgage payments
How can I increase my chances of approval for a loan?
This is my first time buying a home and I’d like to know what increases the chances of getting approved for a conventional loan? I’ve read that Income, Assets, Credit, and Debt are the foundations t...
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