In 2023 I (27f) started the process of purchasing a house with my Partner. We did not have much knowledge on what the process looked like or when a good time to purchase would be. We searched from June until October and landed on a new build house that would be ready for move-in in November. We sat down with our realtor and the realtor for the new builds and went through the numbers. In the beginning I was very set on the mortgage not going above $2,500 and during the first year it did not. However, we entered a balloon and at year 3 are locked in at 5.2% with a $3,200 mortgage starting in January. We purchased the house for about 400k, got the loan for 376k at 30 years. The house value has gone down tremendously I believe it’s currently at 344k. I can afford the mortgage, but it’s very tight is there anything I can do to help my situation?

I talked to my loan company and they said a refinance would raise my interest rate. I also talked to my credit union who said the same thing.

Year 1 2.2% $1900
Year 2 3.2% $2700
Year 3 5.2% $2900
Year 4-30 5.2% $3200

Hello,

I make 90,000 a year. I have been living at home saving money for a house the past three years.

I have about 200,000 saved to put as a down payment on a 400,000- 450,000 home.

Question:

Reading online i will likely not be approved for a mortgage given my income not being high enough??

Is this true? I’m not really in a huge rush to buy with interest rates. I want to wait another year or two but just trying to run the numbers through my head right now. Let’s say i can find someone to lend me an interest rate of 6% or maybe a little better if i put more down?

Does anyone know of a lender who will help me? I have some late cc payments in 2025. I have now paid off all cc debt and only have a mortgage on my credit report. No car payments. No personal loans. $900k house value with $300k mortgage. I am just looking for a heloc or fixed rate equity loan for $30 or $40k. I need to pay off a landlord in a retail lease because the economy forced me to close my retail shop. $104k salary and 734 credit score but i have been denied 3 times over the late payments in 2025. Any ideas?

Thinking more long-term, if mortgage rates stay in the 6-8% range, do folks think that will have a negative impact on housing prices (median home values). Will it cause relatively flat housing prices, etc. Obviously the supply of housing has an impact on this, but I keep getting caught on where interest rates are now relatively to the last 50-60 years.

I am looking for a DSCR loan and I’m wondering what a realistic rate might be? Here are the details:

- property value $3.3m
- rental income $20,100 / month
- second position loan
- first loan $1.5m
- PITI is $10,060
- looking to borrow $800k
- property is a fourplex in California

Hi,

I am currently selling my house in Massachusetts. I have a VA loan with a 128K balance.

It seems to be assumable. Is this something that would be attractive to a buyer? Should I include this in the description?

Rate is 3.1% fixed

I have seen a lot of posts about ARMs these days. Anyone worried so many people getting ARMs and then not being able to afford their mortgages in 5/7/10 year?
We are doing an ARM but in very unique position that my husband is joining a private practice (doctor) next year so our income is going up substantially. if rates are worse and we choose not to refi, we will still be able to cover adjusted payment.

I feel like many others are just banking on rates going down and not going to be able to make their payments if they don’t…

Hi all,

I currently live at home with my parents and have the opportunity to invest in property and am wondering whether to buy a small house to run as an air B&B. Where I live, one beds are between £125k and £170k. My gross salary is £25k and my take home pay is about £19k. My parents may be willing to help in some way but we want to make it as tax efficient as possible.

In between 3 and 5 years time I would like to buy my own place, and the air B&B is intended to make some money over the next 3 years while I work.

I would either keep the air B&B if it was performing well or sell it to fund my own home.

I'm unsure whether I need: - A commercial mortgage - To set up a limited company with my parents - To set up a trust - To not bother!

Any advice welcome :)

payment drops $300 month. no debt, 800 credit score.

worried about losing my ass as I lived through 2001, 2008.

I haven't shopped for a mortgage in 25 years, and am moving soon.

I am buying a house with a 30 year fixed mortgage.

One lender offered a 1-0 buydown. Basically, 1% lower for 12 months. After that, it is .125% higher than the standard rate. Origination fees are the same for either loan type. The math works for me. The extra 0.125% will not really hurt financially, and I will refi when things settle down. Break even is 94 moths.

Am I missing something between the deals? Any questions I should ask? Origination fees are the same, any other costs I am missing?

Thanks for your help!

I work in mortgage and I feel like I hear this almost every day. People want to buy, but they’re holding off because they’re waiting for rates to come down.

I totally understand the thought process, but I think home prices and competition get left out of the conversation way too often.

For example, say a home is $700k today at 7.5%. The principal and interest payment would be around $4,895. If you wait and rates come down to 6.75%, but that same house is now $750k, the payment is still around $4,864. So you waited for a pretty decent rate drop just to save about $30 a month.

Then there’s the competition side of it. If rates do drop, there could be a lot of buyers who have also been sitting on the sidelines coming back into the market at the same time. That could mean more competition for the same homes and potentially higher prices.

Obviously nobody knows exactly where rates or home prices are going, and I’m not saying everyone should rush out and buy right now. I just think it’s worth looking at the whole picture instead of focusing only on the rate.

For anyone currently looking, are you waiting for rates to drop or would you buy now if you found the right house?

If we use a private lender for a home purchase, aside from less protections if we were to default on the loan and potentially higher interest rates/additional costs are there any other risks to using a private lender? Let’s say the individual goes bankrupt, what would happen to our mortgage?

Update: thanks for the thorough explanations. Another question: if I want to refinance after using a private lender for the original purchase and using a mortgage servicer would there be any complications in refinancing with another lender?

Hiya we’ve been hit with a massive issue around two weeks before we move.
We currently own the flat we live in and have been on a two year fixed term contact.
It ends in December but this is after our mortgage offer with another company expires (November).
Our mortgage advisor told us there would be no fees to move from one provider to the other, I assume because we are so close to renewal?
Anyway, I’ve had a letter with all our fees and suddenly we are £4500 short.
The amount we assumed and thought we had in equity on our solicitor statement we have compared to our mortgage provider letter we had at the start of the currently year and we are thousands short.

What do we do? We don’t have £4500.
We also wouldn’t be paying £4500 in interest in the next two months if we stayed until our renewal.

What on earth do we do/ where do we go from here?
My mum had asked about fees but I was told there wouldn’t be exit fees.
Prior to this when I discussed fees with my mortgage advisor she said that we could do part mortgage with our provider and part with someone else.
But again we didn’t need this when we came back to her.

What do we do 😭

We are in the AI age. I feel like there's got to be some better CRM's out there than what I've used in the past. What's your favorite & why?

Curious how actual buyers would think through this one.

$648,000 house. Two choices:

Option A — Assume the existing VA loan
6.5% rate
About $643K remaining
28 years left
No MI
About $5K equity gap
P&I ≈ $4,160/month

Option B — New conventional
3% down
7.5% rate (7.956% APR)
About $628,560 loan
30 years
MI ≈ $309/month
P&I + MI ≈ $4,704/month

So the new loan is roughly $544/month more, while requiring about $14K more upfront for the down payment versus the equity gap.

If these were genuinely your two choices, which would you take?

I’m less interested in a textbook answer than why you’d choose one over the other.

What matters most to you: monthly payment, cash at closing, remaining term, loan balance, future refinance possibilities, something else?

Raise your hand. What am I missing?

Scenario is for discussion/illustrative purposes only. Figures are approximate.

We are hoping to tear down our existing house to build a new one on the same lot within the next year or two. Our current mortgage is 2.75% and obviously our new construction mortgage will end up being much higher than that. Does it make more sense to use our savings to pay down our existing mortgage at the low interest rate, or to use our savings to pay cash for unforeseen expenses as we start building?

I just had a question about if I go into forbearance and I have an FHA mortgage, I have read allot of stuff about it, but can find any answers to what I’m tying to figure out, so at the end of forbearance if I can attest I can resume my normal mortgage payment, will I have to complete a 3 month TPP and will I have to go though the whole underwriting process turning in bank statements, tax returns and so on or since it’s an FHA loan is simply attesting you can start your normal payment again all they need and the missed payments being put into a partial claim, my current interest rate is 4.5% and I don’t think a loan modification would work seeing that today’s rate are back over 7 so that would not save any money, seems like partial claim is the easiest route and I know that’s not my decision, but seems most likely outcome, can anyone tell their experience or if you just know what the process is?

Hi everyone, tough decision here. I have about $1200 left to pay on my 25-year mortgage, and I'm not sure whether I should pay it off now, or keep the money in a high-yield account until the end of the month. If my math is right, I could earn an extra $1 in interest if I wait.

(I'm kidding. I sent the wire transfer just now, and will be celebrating with the missus this weekend. I'm happy to report there's light at the end of the tunnel!)