Do we wait until our loan is paid off completely?
My wife and I are planning to buy a home in a year. We are waiting to pay off a personal loan we took out around 2 years ago before applying for a loan since it takes a big chunk of our DTI. Can we pre-...
Clearview City, KS - May 13th 2022
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Are non qm loans any good?
Are non-QM loans a good option? Do they charge higher down payment and closing costs? I’ve been trying to look for lenders but I am having a hard time finding one. I can provide more than 2 years of b...
Should I buy in cash?
I can afford to pay for a new home in cash but with the interest rates lower than usual I considered a $200k loan. Now I am looking at 5% and I am leaning towards cash. I would have little savings left ...
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...
Getting a condo with an FHA loan and HELOC
I recently refinanced out of my FHA on my first property. I was hoping to get a 2nd condo with an FHA loan and using a HELOC from my first property, is this possible?
Having a hard time getting an FHA loan
Hi, my name is John, 25 years old and looking to purchase my first property. I am having a hard time getting approved for an FHA loan though. I work as an electrician through a staffing agency to work o...
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 my girlfriend and I co-sign for a loan?
I am looking to buy my first rental property but just recently declared bankruptcy 6 months ago. I have enough money for a down but I would surely get denied due to the bankruptcy. Can I use my fiance's...
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...
I plan to buy a house but lender requires 2 years of W2s, what are my op...
I am moving to California this year, leaving my job 8 months ago to start a new company. I am a flipper and got my first project done using a hard money loan. I want to buy a house when I move but a len...
Atlantic Beach, FL - May 10th 2022
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Are hard money lenders any good in my case?
My current lender requires a 30% down for a conventional loan on a triplex. Do I have other options other than an FHA? I’ve heard of owner occupied conventional loans with a 15% down, I think my DTI i...
Indian Wells, AZ - May 9th 2022
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Need to get a loan for a second home
I’ve been having sleepless nights trying to obtain a loan on a second home. I thought a HELOC would work as I planned to use the equity on my first home and get cash for a down payment for the 2nd pro...
Atlanta, GA - May 9th 2022
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Are there lenders who take on a small amount for refi?
I am looking for lenders who would refi at $50k. Most of the lenders in the market are at $75k minimum. My property is worth $150k and I need the funds to renovate our bathroom which needs it badly due ...
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...
Triple net deals? how do they work?
I am new to real estate investing and I have my eye on triple net properties. Where do I start? How do I get financing for a triple net deal and how much down payment is usually required?
Aliso Viejo, CA - May 6th 2022
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