How much can I borrow?
How much you can borrow largely comes down to how much you earn, specifically your debt-to-income ratio (DTI). Basically, we look at what percentage of your monthly income is required to meet ongoing expenses like rent, utilities, car payments and credit card bills. You know, all the really fun stuff. Most lenders prefer that your DTI not exceed 36% but some FHA-approved lenders will go all the way up to 50% in some cases. So take 15 min and apply to see where you stand.FeaturedWhy is Beeline's closing process so much faster than other lenders?
Our closing process is faster because we’ve streamlined and automated a meandering journey into a simple Beeline.FeaturedWhat if I don't have a home picked out yet?
You don't need to have a home picked out to apply with Beeline. We can help if you're: In home shopping mode Just starting to think about it Buying your second home or an investment property A seasoned refi master. Having a Purchase-Ready Approval while shopping for a house is your best friend. If you don’t have an exact house, during the early part of the application you enter the zip code of the area where you’re shopping.FeaturedWhat happens if the home inspection shows damage or repairs?
If the inspection shows issues you didn't know about, you can request that the issue is corrected before closing or you can cancel the purchase contract at no cost to you, and you'll get your deposit back if you had an inspection contingency.Few readersHow much of a deposit do I need when I make an offer?
That's usually up to the seller, but usually a $1000 deposit is fine when your offer is accepted by the seller.Few readersWhat could cause me to lose my deposit?
Make sure to read your contract — laws vary from state to state. You can lose your deposit if you waive your contingencies, don't follow the terms/meet the timeline of the purchase contract, or you get cold feet without a valid cause. Earnest money gives sellers financial assurance that a buyer won't back out of the contract without this valid cause. Depending on how the contract is worded can get into a lot of what-if scenarios, for example some contracts would say you can lose your Earnest MonFew readersWhat could happen to miss the contract date?
We find that contract close dates get missed for the following reasons: the borrower is not providing necessary documents/information timely to us (within 24 hours of request), there are issues with the appraisal/property condition/property value, there are unforeseen title issues (i.e. liens, judgments, etc.), or the contract close date is less than 30 days away. We’ll be aware of the timing once we receive the contract and will reach out to the realtors if we feel as though iFew readersDo I need a pest inspection?
For VA loans, you always need a pest inspection. For other types of loan, you’ll only need one if the appraiser makes note of pest problems.Few readersDo I need a home inspection for the purchase?
Generally a home inspection is voluntarily done by a buyer when purchasing a property.Few readersDo you know any realtors I could contact?
Yup, we have a great network of realtors who we can put you in touch with when you're ready.Few readersWhat happens if we don't close by the contract close date?
We do everything we can to meet every contract date. In the rare instance that closing will be after that date, we’ll contact the realtors to try and extend the date. The best way to avoid this from possibly happening is to provide information/documentation quickly (within 24 hours) of any requests.Few readers