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 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...
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 ...
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...
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...
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...
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?
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 ...
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...
Are there lenders who will take on 100% financing based on a property's cash flow? I don’t have extra funds for a down payment and I am currently working my way out of debt. This will be my first inve...
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...
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...
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...
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...
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?
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