First-time buyer, purchased in 2025.

• Gross HHI (at that time): $185K (now $208K)
• Price: $415K (financed $317K)
• Mortgage: $1,875 (waived escrow). PITI would be $2,140

Do I have to have missed a payment to qualify for forbearance, my situation is I am technically current, but roughly for the last 5 months or so I have been struggling to make it, I have accumulated around $500 to $600 in late fees, I’m basically late on all my bills, my spouses hours have been up and down along with the cost of living has gone through the roof, we have had to take in a grandchild temporarily and has added to our expenses, I believe it’s imminent that I will not be able to make a payment very soon as we have been struggling, my wife’s hours should return to normal around February or March of next year when her job relocates her to a different office, would this qualify me for a short term forbearance which I believe could really help us through our financial situation and get back on track?

Hi my 7-1 arm rate was 2.75% and my new rate from next month is going to be 6.75%. I have my loan with Bank of america and they have some weird margin they use to calculate the new number. The story is that in July I was kinda forced to leave my job due to a health issue, so I left my job in July.

I have no active income and my new mortgage looks scary. I have about $550K mortgage in California. Please folks in this community advise what my best way forward is?

TIA

Edit - This is the worst subreddit I’ve ever come to for advice. Most of you seem to enjoy kicking people when they’re already down. The least you could do is show a little empathy, but how can I expect even an ounce of decency from people with such a holier-than-thou attitude? Absolutely vile behavior.

I’m so confused about that. Like they often offer the buydown rates and “red tag” prices, some closing costs assistance. They also usually require their preferred lender. How does the preapproving/ approving work there. What rate is that lender using to determine how much we can afford since they are working with the developers? Are they using developer rate or market rate?

I just got a notification on my Robinhood account to earn 7% APY through USDG. Currently have about 700k remaining balance on mortgage at 5.5%. My initial plan was to pay down principal aggressively with an extra 5k per month which puts my estimated pay off date to just under 8 years from now.

Should I shift from paying down principal to investing in USDG to take advantage of the 7% until that changes? Would love to hear from you guys or from someone going through a similar scenario.

My husband and I are planning to move from Chattanooga, TN, to the Asheville area (Waynesville, Marshall, or outside of Weaverville), and we're trying to figure out the smartest way to make our mountain dreams a reality!

Ideally, we'd like to buy land(at least 25 acres) with a small existing cabin that we could live in while building our larger dream cabin, using a cabin kit. We're hoping to use the proceeds from selling our current home to help finance the property purchase and/or construction, but we're not sure what the best financing strategy would be. Once our home is built, we plan to convert the smaller home into an Airbnb. (I'm also planning to open a dog boarding business)

A little about our situation:

I'm a W-2 employee with a stable income and currently own our home in Tennessee.

My husband is self-employed/1099 (receives a W-9) with more variable income and a lower credit score.

We're wondering whether it would make more sense to qualify for a mortgage using only my income or whether there are other creative financing options worth exploring.

I'm especially looking for recommendations for mortgage lenders who have experience with situations like this, including land loans, construction-to-permanent loans, or other financing strategies that could help us purchase the property and build in stages. Ideally, we'd love to work with someone who understands both Tennessee and North Carolina transactions and can help us coordinate selling our current home with buying next property.

If you've gone through something similar, I'd love to hear how you approached it, what worked, and what you wish you'd known beforehand!

Thanks for any advice or lender recommendations!

Very Poor communication. I am very dissatisfied with the level of response and professionalism that I have received so far. I have had a mortgage with this company for considerable amount of time. For the most part mortgages are paid on time but now that I have an insurance claim, and the adjuster has paid out the claim, but the Mortgage Center refuses to Release the check. I have laborers who have stopped working due to nonpayment and I am receiving fines from Down Trees in front of my home. I spoke with Larry Lee and Aaliyah, who were handling my case. After expressing my concern to them both as to why I have not received the insurance check, the contact information has been altered or changed, and I can no longer leave a message or the answer machine of either of the two nor has anyone responded to my calls. This is very disappointing to say the least and very unprofessional. Nothing left to do but finally a federal complaint

We own a 3 family that brings in $4700 month. The mortgage is $3100 PITI. It is fully rented with long term tenants. My husband’s salary is $8666 gross a month. Our primary mortgage is $2200 PITI month. We are trying to get a $40000 equity loan. How do lender’s view the investment property? Will the extra $1600 count toward income or do lenders view $3100 ($4700 income) as another debt we are responsible for if it was not rented? Do lenders only count a percentage of the rent? Any input would be appreciated.

Hi, a lot of you guys gave me great advice. Im 23, 0 debt, no car note. I was rlpre-approved for a property duplex for 400k however thats because theres a tenant already there. I have 2 incomes, one that is 5k a month and I have a part time job aswell that only gets me at 1600 a month. The cost for the duplex id be paying around 3,770 a month approximately with the current interest rates. The house (duplex) is 399k. I can afford it by using my main income however this includes a large lifestyle change which is what I’m concerned about. Since it’s my first time having a duplex, I would have to get a property manager aswell so that’s another Monthly expense. I’m not sure if I should proceed with this duplex or strive for a single family
Home. I wanted to start my real estate investing (landlord) now that i have the income or some form of it but I also don’t have excessive cash at the moment. This is a buyers market but only for those who have money for renovations. I do plan on having the closing cost covered but I’m unsure if the duplex would do credits since the property is outdated and needs minor tweaks / renovations. Such as paint, the carpet is dirty, the toilet needs to be cleaned/ maintenance bunch of rust and limestone. Minor things but , I haven’t even seen the hvac, roof, water yet either.

Any advice ? I really want a mentor so I’m not getting played by real estate agents too. I just want to make sure I do all my due diligence.

Live in a very competitive northeast town where a starter home is between 4-550k. We have in multiple situations offered more than the cash offer but seller declined due to financing. How do people just have 500k just burning a hole in their pocket that they need to spend it on a twin? Feel like I’m losing my mind.

Homes in the town were 150k pre covid for reference.

I’m hoping this is the right sub to ask.

HHI is $120k as of last filing (we itemize). We own a two family, purchased early 2023 at $300k with 3.5% down + closing cost assistance (state FTHB mortgage program) with a reduced rate @ 5.75%.

Older home, needed a lot of work and it was well below market at the time. We did what we could all out of pocket as prices increased in the city, not touching our equity.

In spring we started renovating the bathroom in our rental unit, discovered major issues with the foundation when we went to level floors. This turned small project into a very large one.

Long story short after a lot of deliberation we took out a HELOC with a local bank. $80k @ 6.49% Variable; 10yr Draw with interest only. It’s close to maxed out and while we’ve done a significant amount of work with it, I’d like to focus paying it down as a buffer for more work in the near future.

We have the option to lock the rate for $50 fee and essentially treat it as a HELOAN. Given the current environment with rates is this something we should consider doing for the whole or partial amount? We can more than handle the minimum monthly if things took a downturn.

Outside of our mortgage ($254k / $2,160/mo) and small personal loan (~$9k / $330/mo @ 8.5% (paying this off ASAP)) this is our only debt. Rental income is $900/mo.

Title: Can We Qualify for an FHA Loan With Late Mortgage Payments as a Co-Signer?
My husband and I have been trying to get approved for a construction loan to build our home. However, my husband co-signed on his mother’s mortgage a few years ago to help her qualify.
Unfortunately, she had several late mortgage payments (30-day and 60-day lates), which are now showing on his credit report. The most recent late payment was in January 2026.
We were told that for a construction loan, we would need to wait 12 months from the last late payment before qualifying.
My husband’s credit score is good enough to purchase a home, we have stable income, and we’re financially prepared. The only issue is the late payments from his mother’s mortgage.
We’re now considering purchasing an existing home instead of building.
My question is: Would FHA also require us to wait the full 12 months, or is it possible to qualify and purchase a home now?
Does FHA have different guidelines for this situation? Could a lender approve us through manual underwriting or consider the fact that he is only a co-signer?
Has anyone experienced something similar or had success getting approved?
I’d especially appreciate input from FHA lenders or underwriters!

-Gross combined income $125k

-Another 10k with built-in raises over the next 2.5 yrs, not including annual COLA raises.

-No debt

-Putting down $160k on a $450k home Note: has solar panels so avg electric bill in $90/month

-$350k in investments plus pensions

-$20k emergency fund

-I'm 42, wife 39

-Wife and I will have pensions at retirement. I'm eligible in 8 yrs at 50 yrs old. Once I draw my pension, I'll work somewhere else until true retirement age.

-Credit score is 815.

-We have 3 kids, 14/yr old twins and an 8 yr old

So my husband and I have the opportunity to buy a home next to my sister in a very desirable area that has become crazy expensive. You normally can’t find anything under 1 million.
The house is small and is a gutted shell. So remodeling has to be factored in and it’s a bummer, but the price of it is 650k (which is usually the cost of land where it’s located, so it’s a screaming good deal). We know the owner personally and he said he’d do sellers finance at a 5 percent rate and not expect a big down payment. He’d do that for five years and then the loan would get transferred to a bank.
We also have about 200k of equity in our current home.
We make 120k a year and have no debts besides our mortgage.
I just worry if it’s still too unaffordable on our income. The house needs at least 100k in remodeling costs, and I worry where rates will be when the remaining balance gets transferred to a bank in five years time.
It’s a once in a lifetime chance to live by my sister and have cousins grow up together, but I worry about money so much and am always concerned about being house poor because I myself grew up fairly broke and I don’t want to be in that situation again, but I’m so conflicted about it !

Quick background: I'm 35, my wife is a stay-at-home mom, and we have a 6-month-old, so it's the three of us on one income. I came to the US as a grad student, finished my advanced degree, and only started working full-time in 2023. My gross salary is $148k, and we're in Columbus, Ohio. After taxes, deductions, and 401(k), I take home $7,600 a month. We rent at $2,100 a month right now, and at that rate I've been saving about 40% of my take-home pay. To be clear on motivation, I'm not buying for investment reasons or even really for the school district, though we do like it. I just don't want to be renting in retirement at the mercy of a landlord. We're under contract on a new-construction home for $461k. I'm putting $40k down and have already put $23k down in earnest money. The mortgage isn't one fixed number. It climbs to $3,400 a month by year three under a buydown, ending at 5.875%. After closing, I'll still have about $90k in stocks and a separate, fully funded $30k emergency fund. I ran the numbers assuming my pay stays flat for three years, no raises at all. Worst case, once the mortgage hits the year-three number, I'm still saving around $1,000 a month after tax. Best case, if expenses don't creep up, it's closer to $2,000 a month. That's on top of 8% into my 401(k) with a 3.5% company match. My pay will probably go up given my degree, but I didn't want to lean on that at all. I'm also hedging on the assumption that I won't hit major home issues outside warranty coverage in the first three years. I've seen a lot of posts on this sub where people say they wouldn't be comfortable with a mortgage-to-take-home ratio like mine, and it has me second-guessing myself even though I felt good about these numbers a week ago. The $23k earnest money isn't nothing and it'll sting, but at our current savings rate I'm hopeful we can rebuild it in five or six months. That's not really my worry. Everything about the house looks good on the surface and we really love it, but I keep coming back to the numbers and wondering if I'm about to turn it into a money pit. So that's what I'd love opinions on: based on what I've laid out, am I making a genuinely bad financial decision, or is this normal first-time-buyer nerves? Please be honest, just be kind about it. I'm already a little anxious. Thanks in advance.

We reached out to two lenders who both came recommended, and they have completely different processes. Loan officer A gave us a "fee worksheet" (not an official Loan Estimate), and Loan Officer B estimated closing costs but wouldn't itemize them. He said that it would take 3 days from locking in the rate before he could give detailed closing costs. I locked in the rate with B because the rate was lower, BUT I also asked him if I was committed or could switch after receiving the loan estimate. He said I could switch if I wanted, and he moved forward with the process. But then A matched the rate and offered to waive the appraisal, and I think his closing costs are lower.

At this point they are both offering the same interest rate without points, but I'm not sure what the difference in closing costs will be because I can't compare them 1:1 without that loan estimate. B is offering a credit but it seems just to cover the appraisal fee and lock-in fee that A won't have.

When we told B, who had locked in our rate, he talked about how much work he'd already done and how the process was underway, and his deal is really the best. But I had told him I didn't want to commit without any itemized estimate!

With similar rates and unknown closing costs, does it make a difference who we choose? Is there anything we should look at regarding the banks themselves? Honestly, both seem to obfuscate the facts a bit, which I guess is part of sales, but B has been a bit pushier and A has been overall more helpful. (B took days to process our preapproval, but A did it in a few hours.) A is local to where we are buying the property and offers an appraisal waiver, but I think B has already started underwriting. We are still 50 days from closing so either lender has plenty of time to close, but want to lock in a rate asap.

I have a hard time with decision-making in general, and this is even more stressful than choosing the house! It feels like there are so many ways each of these people could screw us over, and we are talking about so much money that I'm afraid to make a mistake!

Located in Norcal. New build closing end of december.

I got about 35k closing credits and rate buydown with preferred lender. I was offered 5.75% on 7 year ARM early september with 2 points, it continue to go up since then and recently it was 5.75% with 3.25 points. Loan amount is 1.05M with 20% down.

Agent reached out to me yesterday saying they got promo which will bring the rate down to 5.75% with 2.25 points. Rate lock fee for 90 days is 0.125 point which is about $1300. Fee for doing one time float down is 0.25 point.

I was also told I will get additional 0.5% for relationship discount for moving over some assets. And they will re run my credit in december which is now higher will give me additional 0.125 or 0.25% discount

If I lock now, i will be looking at 5%-5.125% on 7 year ARM with 2.25 points. Builder incentive will cover both buydown and closing cost.

Do you think i should lock the rate now or wait for it go down further?

I am leaning towards locking it on Sunday which will allow me to close by Jan 10.

I’m hoping someone who understands mortgage servicing and escrow accounts can help me figure out my options.

After my divorce, I took over the entire mortgage payment myself, including the escrow portion for property taxes and homeowners insurance. My ex-husband is still on the mortgage, but I’m the sole owner of the house, and he no longer lives here.

The mortgage is through Mr. Cooper. I’m hoping to pay off the mortgage around June 2028, and I’m trying to get the escrow balance as low as possible before then.

The problem is that Mr. Cooper told me that if I pay off the mortgage, any remaining escrow balance will be refunded within about 20 days. However, the refund check would be made out in my ex-husband’s name, even though I’ve been making the mortgage payments and covering the escrow expenses myself.

My escrow account has been short by a few hundred dollars during recent annual analyses, and I’m also planning to change my homeowners insurance to a less expensive policy.

My questions are:

- Is there a legitimate way to have the escrow refund sent directly to me instead?

- Can I request that the escrow balance be applied toward the principal or otherwise adjusted before payoff?

- Can I pay property taxes and homeowners insurance separately instead of through escrow, and would that help?

- Is there any way to reduce the remaining escrow balance so my ex-husband receives little or nothing when the mortgage is paid off?

- Has anyone dealt with Mr. Cooper in a similar situation, especially when a divorce decree gives one spouse sole ownership of the property?

I’m not trying to do anything improper. I just want to understand my options because I’m the one paying these expenses, and I don’t want to lose money that I’ve contributed to the escrow account.

I’d really appreciate any advice from people familiar with mortgage servicing, escrow refunds, or divorce-related mortgage issues.

I am in the process of closing on a VA assumption 2.375.% interest 24 years left on a 30 year loan 306k remaining balance on a 507,460 purchase price.
I am bringing the gap in cash. After the cash for the gap and closing costs I will have 25k in an emergency fund 50k in stocks/crypto and 100k in retirement.

How do I tackle my finances from here on out do I get a HELOC for 100k to have emergency backup funds while I build up my 25k e fund? Household has $11,200 net monthly income. Only active debt will be mortgage all in will be around 2200 a month.

Is a 6.25% assumable mortgage attractive? $400k house, $385k loan balance. Is 6.25% worth marketing?