Preapproved for mortgage loan but won't tell me interest rates

8protonsOct 10, 2018

First Time Home Buyer/Shopper Spent about 30 minutes on the phone with Quicken Loans (Rocket Mortgage). I provided all of the expected information when running a credit...

Missing Quarter in Form No 16

VivekOct 10, 2018

My previous employer has mistakenly no mentioned the Q3 in my Form 16, but it has the details of Q2 and Q4. I have applied for a home loan and the bank wants it clear....

In Spain, is income from mortgage interest considered income or capital gains?

Kurt PeekOct 10, 2018

I’m advising someone who is a tax resident of Spain interest in providing a mortgage to someone in the U.S., and trying to get an idea of how the interest from...

Why would a bank take a lower all cash offer versus a higher offer via conventional lending?

Aaron McIverOct 10, 2018

There seems to be a a belief that a bank or individual will always take cash over conventional financing from a buyer, even if the buyer who is purchasing through...

Cancel PMI at 78% or at 75% if Fannie Mae

user1700890Oct 10, 2018

I just requested my bank to cancel PMI, since my balance reached 80%. Bank sent me note that I need appraisal and also my LTV should be 75% since my loan is less than 5...

How does DTI work while building a house?

NicholasOct 10, 2018

Lenders are pretty consistent and clear about how DTI (debt-to-income ratio) is calculated and the limit of 45% for a traditional mortgage against a primary residence....

Formula for Calculating Periodic Fixed Payments with Multiple Rate Changes

JWW85Oct 10, 2018

I’m trying to figure out how to extend the formula provided by Chris Degnen in this previous question What is the formula for the monthly payment on an adjustable...

Should I pay extra towards my mortgage or HELOC?

4exchangeOct 07, 2018

My first mortgage has a balance of $147k with 4.75% fixed interest rate. My home equity line of credit (HELOC) has a balance of $87k with prime minus 1.1%. I’ve...

Can previously low wages hurt my chances of an approved home loan?

Sav S.Oct 07, 2018

Some quick stats about me. Received a pre-approval for $280,000 Credit Score: 808 Current Salary: $63,500 Job: Junior Software Engineer My main concern here is regarding...

Where can i find a historical chart of equity vs mortgage percentage of home values?

Michael dOct 07, 2018

Let’s say that a home is worth 1 million dollars according to current estimates. If the owner has $800k in mortgages his home equity is 20%. Are there any charts...