Can I be declined for a mortgage after getting pre-approved?
Yes, you can. Changes to employment, debt, or assets can nullify a pre-approval letter.
Why do I have to sign a gift letter for providing funds to my spouse to buy a house?
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?
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?
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?
Under some circumstances, income derived from a cannabis business may be allowed to be used for mortgage approval.