@Sneha Deshmukh what interest rate are they projecting on your mortgage?

Regarding your concerns of the going rate over 5% and 5 year terms,  since a standard mortgage is 7% right now, I would expect 7-8% minimum for a seller financed rate. 

A mortgage loan officer?

My experience in the mortgage industry came in handy through out knowing what questions to ask.

Just the fact that they took out a second mortgage in 2022 and it is now in foreclosure looks a little suspicious.  

@Ruchit Patel, if they are dead set on remaining in their current home then a reverse mortgage could be the answer because it allows them to get income from the equity in the home.

Do not pay him he is a fraud type of guy. he won't teach you the right way of doing it. he will just sell you something you can find online.

We were trying to get a conventional loan through Guild Mortgage, but yesterday I received the email that we didn't qualify due to the PMI they quoted us being an extra $2000 per month.

Suck it Austin :) (CNBC).Today’s Interest Rate: 7.39%(👇 .11% from this time last week, 30-yr mortgage)Interest Rates are Higher, It’s Been LongerI hear constantly on the news (@CNBC @CNN @FOXNEWS etc…..)

In your experience, did you leverage debt services expense (aka mortgage expenses) in your application?