u/ThrowAwayHey9Hay9

I am listing my property locally. Its on the lower end of value, probably will go for $125k.

I know I will be expected to pay buyer's agent the 2.5%.

The agent I talked to abput selling wants 3.5%. He is a broker as well, so he will get that entire 3.5%. Is this a little high? I was expecting them asking for 3% max. I know it is a cheaper piece of property, but as a broker he is getting it all. If you sold recently, especially on the lower end, what did you pay?

Hello all!

In January I applied for an increase in my HELOC to improve my current home because my family has grown. We ultimately decided not to go forward at that time because we thought we could stay under our current HELOC limit to do what we needed. We withdrew.

Then, in April we decided we would ask for the increase again because it turns out building materials have gone way up in price (just like everything else). We were thinking of either moving forward with the home improvements or using the equity to buy a new place.

We ended up deciding to apply for a new purchase mortgage to get a new house and move. So we withdrew this HELOC application and got pre-approval for a new purchase mortgage that same month.

The underwriter wants me to write a letter of explaination regarding the two HELOC credit inquires (January and April). Of course I will do so, but I am very freaked out that this appears sketchy and would compromise my loan. No new money was borrowed.

Is this concerning?

I am in the process of getting a mortgage. I reported my own credit union accounts and assets.

At this same credit union, I am on an account of a youth sports team (I'm treasurer) and also my minor daughter's account. These accounts have separate statements and account numbers.

I loan officer says I do not need to document these other accounts as those assets will not be used for closing costs.

I was talking to a friend and she says that sounds sketchy. Has any one had any experience with this situation? I don't want any underwriting snafus.

Thank you!

I like to keep cash on hand. I reported that I have 5k in cash on my mortgage application. Application is pending and I have been preapproved. Offer has been submitted.

I had a major expense come up and had to put said expense on credit card. The vendor I had to pay did not accept other payment methods.

Since I have cash, I want to go to Walmart and use that to pay off the expense I put on the card.

Will this be a problem? I told them I had cash but it appears like I cannot use said cash during the process because the source cannot be verified?

Thank you

My wife and I are looking in to buying metal roofing panels from our local Amish neighbors to cover existing archeticural shingles. This is on a doublewide that has a 3:12 or 4:12 pitch. The little porch we have is like a 1:12 and already has screw down metal. That has been fine and leak free.

How can we do this cost/time effectively? I can't get a clear consensus from folks I have talked to.

1. High temp underlayment over top of shingles, and then screw panels right in to the deck.

2. Purlins over the shingles and then panels in to purlins.

3. Purlins over shingles, underlayment, then panels.

I know some people recommend tear off, which I get. I just want to explore options as finances are limited. We hope to only be in this house for 5 more years. I checked the code book and it did not seem clear either.

Hi,

Question: Will lenders count the available HELOC credit limit when reviewing our new mortgage application OR only the payment of the current balance?

My wife and I are going to buy a house. I have never owned, but she currently has a home with no primary mortgage.

She has a HELOC on her current home with a 90k limit. She only carries a 15k balance with a $115 payment monthly payment.

We don't want to sell current home before we buy a new one for many reasons.

We can carry the small current payment and taxes, etc. while we try to sell current home. We could also rent it out if it does not sell right away.

We should have no issue qualifying with the current payment/balance. However, if they count what the payment would be if we maxed out the HELOC we'd be out of luck.

I plan on contacting lenders but I'd rather not waste time if I don't need to.

Thanks everyone!

Hello.

I have a doublewide that currently has an asphalt shingled roof. I am redoing the south side in exposed fastener metal.

I am leaving the north side alone and plan on redoing it in metal in the future as finances allow.

So, how am I to cap off the peak of the roof? I know I will need to get a metal ridge cap, but the metal side of the roof will be higher up than the shingles side.

Any help is appreciated. I do not want to make an expensive mistakes. Thank you,

Hello.

I have a doublewide that currently has an asphalt shingled roof. I am redoing the south side in exposed fastener metal.

I am leaving the north side alone and plan on redoing it in metal in the future as finances allow.

So, how am I to cap off the peak of the roof? I know I will need to get a metal ridge cap, but the metal side of the roof will be higher up than the shingles side.

Any help is appreciated. I do not want to make an expensive mistakes. Thank you,

Hello,

I have no primary mortgage, but do have a HELOC. I would like to do some more home improvement.

I would rather get a 2nd HELOC with a new lender as current lender would make me pay closing costs again to increase my credit line.

Would a new lender be willing to do this as they would be the 2nd lien?

The original HELOC would obviously be the first lien position.

I don't want to waste time contacting lenders if this is something that would probably not be allowed for.

Thank you.