Buying a home after a divorce

I have an eye for a lovely home worth $500k. I can afford a $350k down payment but I have no documents for a loan since I am currently unemployed. I have a 20 year track record of good income. I just go...

Sell or get a 2nd loan?

We currently own a home and are selling it to buy a new one in Missouri. It sits on a 40 acre lot with a pond with an asking price of $200k. Should we get a 2nd loan to buy a new property or wait for ou...

What a bout if this second loan is old is not in my credit report

Where to find the best rates

I am ready to buy my first home and I want to know what the best websites are to check rates other than Bankrate. I want to get an idea of the prevailing rates before I shop for lenders. Thanks in advance!

Help in choosing the best deal

It’s less than 30 days from my estimated closing date and I need to decide on a lender. There is an incentive if I choose the builder's lender which is $3k less in closing costs. Another lender is off...

Question on Points

I have received quotes from my lender and some are in points. I am not familiar with this and I want to know how much I am paying with points? How much are points? Are paying points any good? My quotes ...

Choosing a family member as broker?

A close family member owns a brokerage company and just got licensed in our state a few months ago. I am buying a house in a few months and I was wondering if I can save money if I choose him over other...

Can I use bank statements to verify income?

Hi everyone, I live in Limerick, PA and I am a car salesman. Last year my income was $90k and this year I am looking at $120k. The problem is I write off around 40 to 45% of my 1099 money. This means th...

Cash or Finance?

If you have $350k to buy a house and the house you want is worth $325k would you pay cash or finance a portion of it? I plan to make the property into an investment home while being a primary residence ...

Plan to make my first home purchase this year

For context, I am single in my early 30s and I want to make my first home purchase this new year. A lot of my friends are buying their first homes and I want to start building my portfolio as well. The ...

Payment dates for rental?

New house owner here and I am looking to house hack(rent out rooms in my home individually). I want to know how to set up payment dates. I was looking at month to month to begin with. Most of the rental...

Newbie in rental business

I am a new investor in the rental arena and I want to know if banks allow for properties to be leased as vacation rentals? If there is a mortgage agreement already, what would stop owners from entering ...

Lenders who approve small loans

I own a one bedroom condo in Fort Myers Florida. The unit is fully paid and is earning rental income. My partner wants to sell her half for $50k which is a good deal given the market value of the proper...

Rental income gives me negative cash flow

My loan is under examination with a lender and they are looking at my existing rental income as part of computing my DTI. One of my rentals gives me $3200 monthly but my tax filing shows a negative cash...

Second quote consequences?

My family is applying for a VA home loan after some setbacks to our credit. We are pre-approved and our application is now with underwriters. We have an agent who works with us and he recommends that we...