Buy a home or rent?
Hi, I'm thinking about paying a mortgage instead of renting and I am now actively looking for a home. I do have financial problems but I'm tired of renting and not feeling secure about not having a ho...
What type of loan should we get?
We live in the heart of sunny Southern California, we find ourselves in a bit of a pickle. Despite having a comfortable nest egg nestled in the value of our home - currently appraised at a cool $1.9 m...
Is this rate ok?
My credit score is 804 and I'm applying for a conventional loan. Loan amount: 350,000 Purchase price: 400,000 Interest Rate: 6.490% Term: 360 months Down payment: $40k My agent suggest to go with this...
Question on conventional loan
Hi, I plan to convert my primary home into an investment property and buy a new primary home. I have another property where my parents stay. Do I need to have reserves for my current home and the pro...
Quoted high appraisal fees, will it be credited during closing?
My lender charged $600 for an appraisal but upon checking the actual cost is only $500. Are they required by law to refund the difference? I was hoping they could send a check or at least credit the am...
What are my chances of gettting approved?
I own a cleaning business since this was in demand during the pandemic. Being self employed, would this hurt my chances of getting a loan? I've been renting for the past 20 years and I believe it's time...
Can a letter from an employer help get loan approval?
I am on W2 status for the past 11 years and my wife recently changed to 1099 a year ago. Despite the change my wife still receives the same monthly salary as before. We both have a credit score of 800 a...
Planning to buy a new home in Florida
I am eyeing a home in Florida worth $19M in a desirable subdivision. Am wondering if FHA lenders will allow closing costs to be rolled into the mortgage? My credit score is 640 so I am leaning toward...
What type of lender would take on this type of asset?
I have a property under contract which is a dorm style apartment with 15 bedrooms and 10 bathrooms including shared space for cooking and dining. I'm having a hard time financing and I want to know if i...
Can I add my self employment income when applying for a loan?
I am a W2 employee but I also started a self employment gig during the pandemic. When things went back to normal my income on the business went down significantly. I have 2 years worth of income on my s...
Looking for a lender who can help with a 2nd mortgage
I have a home but my uncle lives there and pays the mortgage. I want to get a second mortgage so I can have my own home but this first loan is giving me a hard time getting approval on the 2nd loan. Is ...
Can I use equity as collateral?
I have two deeds to two properties in my name and I plan on building a small apartment on my first property. Can I use the equity in my property as collateral for a construction loan? How does this work...
What are my refinancing options?
Our current rate is 3.75% and refinancing at this point would seem ridiculous. I've been hearing that a HELOC would be the best option given our scores of 662, 639, and 614. A personal loan is also bei...
What are other ways to use substantial equity?
I've built enough equity on my current home and I am looking for ways to use it wisely. Do I get a cash out refinance or pull a HELOC? Can equity be used as collateral instead of having a second lien on...
What are our options?
We're looking for a loan in Orange County for $850k. I have a Chapter 13 discharge which will be a year this March. I'm an independent contractor making between $120k to $130k a year and can provide ba...
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