Mortgage application with old bankruptcy

I have an old bankruptcy on my credit report and it’s nearing the 10th year since discharge back in 2012. Will this fall off my credit report automatically? My current credit score is between 720 and ...

Mortgage approval with fluctuating income

I know nothing about mortgages so I’m asking this. I moved from California to DC and while the properties here are a bit more affordable I don’t see myself retiring in Washington. I went on a trip t...

Stalled application process

We started a mortgage application process 3 months ago for a beautiful home worth $250k. The process has stalled due to “quality control” according to our lender. Closing was scheduled a few weeks a...

Sales agent having difficulty with mortgage application

I work in sales and I am a seasoned veteran with more than 10 years of experience under my belt. I have been earning base pay plus commissions regularly without any gaps in income in the past decade. My...

How much income do I need for loan approval?

I have been self-employed for the past 10 years and the business has been doing great. My family and I are planning to buy a multi-family apartment worth $3 million. We have no debts other than the curr...

Borrowing money from a friend for closing costs

I was ready to buy a condo with a conventional loan but I lacked the funds for closing costs which amounted to $4k. My money is tied up in stocks that I can’t liquidate in time and I am afraid that I ...

Single mom applying for FHA loan

I was approved for an FHA loan at 3.5% fixed for 30 years. My monthly payments would be $1,700 which is higher than I expected. I am a single mom and I’m not sure if I can afford the payments. I still...

Healthcare worker buying a home in Florida

I plan to buy a home in Florida next year. I’ve been working in the healthcare industry for 2 years now and I was told that I should work in the same industry for a longer period and make more money t...

Bank or Private Lender?

I am looking for a trusted lender in California that can offer low rates and closing costs. My credit score is 750, I have a car loan where I pay $300 a month and I can afford a 5% down payment for a n...

Apply for a new loan after refinance

Hi everyone, I just refinanced our home and we signed our closing docs already. We have not received our funds yet from the refinance and I plan to buy a car in a few days and I would like to know if a ...

Forbearance extension?

I just bought a new studio apartment in San Francisco before the pandemic started. I got laid off early this year and since my loan was federally backed I was able to apply for forbearance. The problem ...

Closing costs too high?

This is my first time to refinance my mortgage and I came across an item named Delivery Fee under Origination Charges. The fee is $15k for my $420k loan. This makes my closing costs $25k which I find to...

I bought my first primary home, can I rent it out before the 12 months p...

Loan application this pandemic

I plan to buy a studio apartment in the $100k range but I recently lost my job due to the pandemic. I have $80k savings in the bank and I currently live with my parents while actively looking for work. ...

Loan approval delay due to appraiser

I’m having delays with my loan approval since an underwriter from my bank has asked for a clarification from the appraiser and has not gotten any response at all. I’ve tried calling and emailing but...