And that 6 months worth of payments, is that for the new mortgage payment or for the existing one? 

How can you semi accurately predict what your mortgage payment will be?

I'm not an attorney, not a mortgage broker, not a bank, etc., etc. 

Cash Reserves & Emergency Fund✅ Have 3-6 months’ worth of expenses (mortgage, insurance, taxes, and maintenance) saved.✅ Keep an emergency fund for unexpected repairs and vacancies.2.

.🏠 Mortgage Rates:January 2025: 30-Year FRM: 6.93%, 15-Year FRM: 6.14%January 2024: 30-Year FRM: 6.62%, 15-Year FRM: 5.89%Summary: The increase in new listings indicates a rise in supply year-over-year.

So if the house is worth 300k and you owe 200k then most you could pull out would be 40k (minus costs) and it would be a second mortgage most likely which would be expensive. 7.5-9.5% likely.But, you can put as little as 15% down for a conventional loan on a single family.

My business could then pay the utilities, property taxes, mortgage interest, insurance policy, and home repairs. 

Me and my wife currently have a sonyma fha loan.I have no other dti except for my mortgage payment.

@Tyran BlockMake me under 25 again and I'd look to acquire a 2-4 unit property with an FHA low-down payment mortgage.

Typically when the homeowner is 90 days late on a mortgage payment the bank may issue a notice of default.