Does an inactive credit card affect approval for my construction loan?
First-time buyer with a new construction loan ready to get approved. I have a credit card that was closed due to inactivity a few months before closing and I want to know if this would affect approval. ...
How long should I be in business before applying for a loan?
Buying my first real estate investment this year. I own a small business and I pay myself. Will my W2 earnings and business income count when I apply for a mortgage? How many years should I be in busine...
What are my chances of getting approved even with a parent plus loan?
Hi, we live in California and we’re buying our first home. Credit scores are in the mid 700s. We tried a VA loan to avail of the no down and no PMI but we were denied due to a $100k parent plus loan f...
Should I listen to this builder's recommendation?
A builder recommended that I buy down my interest to qualify for this home in Arizona. The original rate is 5.1% and $8075 to bring it down to 4%. This is an FHA loan and I have no idea how long I’ll ...
Are these charges legit?
I plan to convert my current HELOC to a mortgage loan for $140k. There is a transfer tax of $1780 under closing costs. I live in Maryland and was wondering if this charge is legit?
Can lenders call a loan due at any time?
Does a lender have the right to call a mortgage due at any time for no reason? I overheard a discussion about the 2008 crash where lenders called loans even if borrowers were not in default or in breach...
Is this a good deal fo a new construction project?
We closed on a new construction and we plan to lock the rate for 180 days. We asked the builder’s lender and they are giving us 5.1% for a 180-day rate lock. A deposit of 1% of the loan amount is requ...
Problems with lender and agent
I am scheduled to close a week from now but the lender hasn’t scheduled an appraisal yet. We began the application at the start of the month and feel that they’ve been sitting on it and now scrambli...
Investing in a triplex and selling our home
My husband wants to sell our home and invest in a triplex and live in one of the units. We can afford to put down at least 10%. How do we finance such a project? Will lenders consider the property as ou...
What are the pitfalls I should avoid when refinancing?
My dad qualifies for a VA loan and is excited to enter the REI arena. We want to know what the process would look like when refinancing a VA loan. We plan to buy a property with a VA loan, refinance it...
Can I use hard money to cover a down payment?
Newbie here and I want to ask if it is a good idea to use a hard money lender for an investment property? I want to buy a condo in a beach town but lack the funds to cover the down payment. Can I use a ...
FHA room rental
I bought a house FHA, understand I have to live in it the first year, will rent out the room to long term airb&b ( 30 days plus) furnish room. Was going to do short term but realize they require long te...
Self employed and trying to invest in real estate
I have been self-employed for 8 months now and I’m having a hard time qualifying for a loan on an investment property. I have saved up for the down payment and I am excited to invest in Michigan since...
Is there a chance for me to get a loan?
First time to buy a home and I was referred to a lender. I want to apply for a 0% down with credit score 780 and income of $90k yearly. I have a car payment of $400 monthly and that’s it. A realtor ho...
What is the basis for loan qualification?
I am moving to Florida from NY. I worked for 2 years on the same job but will be looking for a new one. What will be the basis for me to qualify for a loan? Will it be my new job or the previous one whe...
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