Kumar Gaurav
Lender wants to be a loss payee on the home insurance policy
HelloI am in the process of refinancing my loan and lender indicated that they need to see their name as loss payee on the home insurance policy document before the loan closes. Firstly,How is this possible while I am...
Tiffany Good
Question of insurance for a wrap purchase
I am purchasing a home using a wrap-around mortgage. The seller has an attorney writing up all the paperwork, but the question has come of insurance. The deed is staying in the sellers name until the loan balloons (6 ...
Daniel Netzer
203k FHA construction loans - and use cases
Has anyone used a "203k FHA construction loan"? I am curious to know how it works and what the rate is relative to the typical FHA-conforming loans.
Michael Fitts
How I Bought My First House
It’s been about seven months since I bought my primary residence. Luckily, I had done some research going in to the deal so I had at least some idea of what to do. But of course, you won’t really know or learn everyth...
Karen Molnar
Do I qualify as a first time home buyer?
Hi everyone, just a general question here! I did a cash out refi on primary residence that my mom and I shared and she left to me after she passed away. I used the refinance money to do a cash buy on an investment p...
Peter Tirado
Question re: 203K loans...
Hi All,I'm in the process of looking into using a 203k loan to fund a flip. Does my contractor have to be licensed/insured in order for me to get the loan? The reason I ask is because I was planning on hiring my fat...
Steven Booty
Know of any NJ Lenders that offer 5% down w/no PMI?
I've found a few of these myself, though few are willing to lend on duplexes like I want to buy. For example, TD Bank offers mortgages at 3% down, lender paid PMI. I found that Investors Bank offers a program with 5% ...
Gabriel DeVita
Closing Cost Question (am I getting worked over?)
My first property is officially under contract. It's a small 2/1 here in the Upstate of South Carolina. The purchase price was $72k and I agreed to pay closing costs, which I assumed would be $3-4k... Boy was I wrong....
Kevin Lefeuvre
Bank needs to be a loss payee on the home owner policy
I am in the process of getting approved for a HELOC and the Bank wants to see a new declaration page with their name on it as a loss payee on the home owner policy. I have never seen this in my previous loans, even th...
Joe Boggin
is this lender too conservative?
my mothered transferred the deed from her primary residence to my two brothers and myself. the note is being paid for by my mother. my brothers and myself are not on the loan...just the title. my one brother is in ...