Forums Discussions
-
All Discussions
-
Does anyone know what non-qm lender can do a Cash-Out Refinance in Texas to buy out Chapter 13 Bankruptcy? The borrower has a VA loan now and would like to do a VA cash-out Refinance, but Texas has those crazy rules: you cannot do cash-output Refinance on government loans. Thank you.
View Last Reply:
replied 1 year, 7 months ago
| Participants: 2 Members
|
2 Replies
-
My husband has outstanding collection accounts. Over 95 percent outstanding collection accounts on his credit report are medical collections. We have spoken to several mortgage companies and they said the medical collections need to be paid off because they treat medical collections the same as non-medical collections. These medical collections is what is keeping his score low and therefore they turn us away and reccomend debt consolidation companies to us. I have read FHA loans treat medical collections differently and so far I find it untrue. What is true in this case? I am beyond frustrated by this. It is cheaper to have a mortgage than rent in my area and it’s time for us to buy but we have this barrier.
-
This discussion was modified 1 year, 7 months ago by Gustan Cho.
View Last Reply: replied 1 year, 7 months ago
| Participants: 2 Members
|
1 Reply
-
This discussion was modified 1 year, 7 months ago by
-
My question is with a 630 average FICO score (2,4,5) and my new taxes showing increasing income in the new year (2024) what other concerns should I have or try to prepare for when I apply for an FHA. DTI is low as well
View Last Reply:
replied 1 year, 7 months ago
| Participants: 2 Members
|
1 Reply
-
My husband and I are looking to buy a house. however he only has 1 year of employment whereas I have over two years of employment. My husband only has one year of employment because he was living abroad. While living abroad he had no work history. Would we still qualify for a mortgage?
View Last Reply: replied 1 year, 7 months ago
| Participants: 2 Members
|
1 Reply
-
My application is currently in underwriting. I am concerned that because my student loans are so high that my DTI may not pass. I have found a home that is scheduled to close on 11/19/2024. Honestly I did not see you site until after applying thru my current lender. Would you be able to take over the case and will I still be able to close on November 19th, 2024 or earlier? I am in Illinois and also seeking downpayment assistance if possible. The Home Inspection and Appraisal have all been completed. My student loans total 186k and I am currently in deferment, but the lender is saying that the payments are coming up to 0.50% of the outstanding student loan balance per month…but I am paying $0.00. My credit score middle is 643. Also I am currently employed but will start a new job in a week making more money. Can you help? What steps will I need to take.Renting a home for two years owner decided to sale to me via notice to vacate. I have bad credit, owe taxes and zero for a down payment. What are my options in Michigan
View Last Reply:
replied 1 year, 7 months ago
| Participants: 2 Members
|
1 Reply
-
How Do You Calculate the Debt-Service Coverage Ratio (DSCR)?
View Last Reply: replied 1 year, 7 months ago
| Participants: 2 Members
|
1 Reply
-
What are the closing costs associated with FHA DPA loans?
View Last Reply: replied 1 year, 7 months ago
| Participants: 2 Members
|
1 Reply
-
What are the benefits of FHA high-balance jumbo loans?
View Last Reply: replied 1 year, 7 months ago
| Participants: 2 Members
|
1 Reply
-
What is the difference between secured and unsecured credit cards?
View Last Reply: replied 1 year, 7 months ago
| Participants: 2 Members
|
1 Reply
-
What are the eligibility requirements for unsecured credit cards?
View Last Reply:
replied 1 year, 7 months ago
| Participants: 2 Members
|
1 Reply
-
How do I apply for a VA Streamline Refinance?
View Last Reply: replied 1 year, 7 months ago
| Participants: 2 Members
|
1 Reply
-
What factors should I consider when buying a primary home?
View Last Reply: replied 1 year, 7 months ago
| Participants: 2 Members
|
1 Reply
-
How do I determine my budget for a primary home?
View Last Reply: replied 1 year, 7 months ago
| Participants: 2 Members
|
1 Reply
-
My credit score is 615 my wife’s 768. We have a high DTI ratio around 47-49%. We currently have 2 mortgages our 2nd mortgage is a Home Equity Line of Credit (HELOC) with Champions Bank and Trust for $65,000. We’ve used $60,000 of the $65,000. Our 1st mortgage is with Mr. Cooper and owe $255,000. Home value between $370,000 & $390,000(Per Zillow Zestimate) last appraiser in 2007 for $349,000. Need to pay off Capital One $60,000 looking for cash out if possible maybe payoff some debt with 90%_125% LTV. What is the best action to take and what would you advise?
-
This discussion was modified 1 year, 7 months ago by
Hector.
View Last Reply:
replied 1 year, 7 months ago
| Participants: 2 Members
|
1 Reply
-
This discussion was modified 1 year, 7 months ago by
-
My landlord asked me to lie, say he is living in a four unit multi-family home I am renting from him. However, the landlord does not live on the four-unit multi family home I am living but owns the property. My landlord does have an extra mail slot in here and gets his mail here addressed from USD. Do you think that I should report him or just leave well enough alone. My landlord even told me if anyone comes to the building inquiring about him living here to tell them that he lives here. I do not feel comfortable lying and covering for him. He seems like a nice guy but he seems shady from what I think is that he is committing occupancy fraud?
View Last Reply:
replied 1 year, 7 months ago
| Participants: 2 Members
|
1 Reply
-
My spouse have a sealed theft conviction will this prevent her from getting a LO license?
View Last Reply: replied 1 year, 7 months ago
| Participants: 4 Members
|
3 Replies
-
What factors should a church consider before taking a loan?
-
This discussion was modified 1 year, 7 months ago by
Sapna Sharma.
View Last Reply: replied 1 year, 7 months ago
| Participants: 2 Members
|
1 Reply
-
This discussion was modified 1 year, 7 months ago by
-
What are the risks associated with No-Ratio DSCR Loans?
View Last Reply: replied 1 year, 7 months ago
| Participants: 2 Members
|
1 Reply
-
What types of mortgage loans are one-time close loans? Do they have FHA, VA, USDA, and Conventional OTC Loans or are OTC loans portfolio or non-QM loans? How do One-Time-Close Loans work? How to decide between a One-Time Close or just a regular conventional loan?”
-
This discussion was modified 1 year, 7 months ago by Gustan Cho.
View Last Reply: replied 1 year, 7 months ago
| Participants: 2 Members
|
1 Reply
-
This discussion was modified 1 year, 7 months ago by
-
What are the benefits of OTC New Construction Loans?
View Last Reply: replied 1 year, 7 months ago
| Participants: 2 Members
|
1 Reply
-
Can I qualify for an FHA loan after filing bankruptcy?
-
This discussion was modified 1 year, 7 months ago by Sapna Sharma.
-
This discussion was modified 1 year, 7 months ago by Sapna Sharma.
View Last Reply:
replied 1 year, 7 months ago
| Participants: 2 Members
|
1 Reply
-
This discussion was modified 1 year, 7 months ago by
-
How do jumbo loans differ from conventional loans?
View Last Reply: replied 1 year, 7 months ago
| Participants: 2 Members
|
1 Reply
-
Is Seller Financing the Same Thing as Rent to Own?
View Last Reply:
replied 1 year, 7 months ago
| Participants: 2 Members
|
1 Reply
-
How do I determine the purchase price in a rent-to-own deal?
View Last Reply: replied 1 year, 7 months ago
| Participants: 2 Members
|
1 Reply
-
Most Americans are aware that many people from different walks of life hate former President Donald Trump. I have never witnessed the hatred people can have against one person. I will try to keep the tone of this post as objective and neutral as possible and base the content on FACTS. I want to compare which candidate is the best leader as President to be the Commander in Chief of the United States. Suppose you can focus on facts and comment on which candidate will be the best President in the best interest of America and the people of the United States so we remain the leader of the free world 🌎. In that case, we can Unite our country and get back to being Americans with one goal in mind: What’s best for our livelihood, the livelihood of our children, the livelihood of our grandchildren, and the livelihood of our future generations? The way our country is divided and the hatred that exists is not healthy. It’s more of a crisis and equivalent of stage 4 cancer. More and more Americans are beginning to speak out and not remain silent. Nobody is above the law. Not Trump, Not Biden, Not Kamala Harris. We don’t have to like or love Trump. However, take a step back and compare Joe Biden, Kamala Harris, and Donald Trump. Who is the best man for the job? Who’s the man who can get us out of the rathole we are in? Who is the man who can get rid of the lying, corrupt, and politically infested system that is destroying America 🇺🇸? Let’s get a thread on your thoughts and opinions on making America a country that the entire World would envy. Let’s brainstorm and become a country of the people. A country of honesty, integrity, pride, honor, and the country helping and caring for people. Let’s decimate corruption, fraud, Treason, and criminals who commit crimes against humanity.
View Last Reply: replied 1 year, 7 months ago
| Participants: 11 Members
|
13 Replies
-
- What type of loans are available for multi-family properties?
View Last Reply: replied 1 year, 7 months ago
| Participants: 2 Members
|
1 Reply
-
What credit score model do mortgage lenders use? Is VantageScore so much higher than FICO? Do Mortgage Lenders Check FICO or Vantage? For the majority of lending decisions do most lenders use your FICO score? And which type of FICO score? FICO 2, 4, 8?
How far off is VantageScore from FICO? What FICO or Vantage Score Model does FHA, VA, USDA, FANNIE MAE, FREDDIE MAC, and Non-QM mortgage loans use? What is a good FICO score to get a mortgage?
-
This discussion was modified 1 year, 8 months ago by Gustan Cho.
View Last Reply: replied 1 year, 7 months ago
| Participants: 5 Members
|
6 Replies
-
This discussion was modified 1 year, 8 months ago by
-
What are the requirements for securing a manufactured home loan?
View Last Reply: replied 1 year, 7 months ago
| Participants: 2 Members
|
1 Reply
-
Good morning, folks. Does anyone know about HUD, FANNIE MAE, and Freddie Mac suspending income-based repayment on FHA and Conventional loans? I heard you can no longer use IBR payments because IBR is getting sued. From my understanding, our borrowers can only use 0.50% of the outstanding student loan payment for debt-to-income ratio calculations. Appreciate any feedback. Seems most wholesale account executives and underwriters do not know about this either. Thank you in advance.
View Last Reply: replied 1 year, 7 months ago
| Participants: 2 Members
|
2 Replies
-
How can I accurately assess the potential profitability of a property before purchasing it?
View Last Reply: replied 1 year, 7 months ago
| Participants: 2 Members
|
1 Reply
