JD Answers Real Estate Questions

Why do I have to sign a gift letter for providing funds to my spouse to buy a house?

Why do I have to sign a gift letter for providing funds to my spouse to buy a house?

Aug 22, 2025 3 min read assets

First, this is normally only a requirement because you are not on the mortgage. Second, its a mortgage requirement to ensure large deposits for the purchase of the home are NOT new loans. The gift letter states that NO repayment of the funds is required.

Can I use an FHA mortgage for a recently flipped house?

Can I use an FHA mortgage for a recently flipped house?

Aug 1, 2025 3 min read fha

Maybe. Depends upon how long the current owner "flipper" has owned the home.

Do We Have to Count Student Loans for an FHA Mortgage if I Am in Forbearance?

Do We Have to Count Student Loans for an FHA Mortgage if I Am in Forbearance?

Jul 16, 2025 3 min read student loans

Yes, we still have to count your student loan debt against you for debt to income purposes if your loans are in repayment or forbearance.

Can I Get Approved for a Mortgage if My Income Comes from the Cannabis Business?

Can I Get Approved for a Mortgage if My Income Comes from the Cannabis Business?

Jul 8, 2025 3 min read income

Under some circumstances, income derived from a cannabis business may be allowed to be used for mortgage approval.

Which credit score do mortgage companies use for qualification?

Which credit score do mortgage companies use for qualification?

Jun 25, 2025 3 min read credit score

Most mortgage lenders use your FICO® score — specifically, older versions of it — when evaluating your application.