Since NVR didn't find my DTI rate acceptable they said they needed to add my wife to the loan and sent over some paper work. Without my wife we qualified for lender paid PMI now we no longer qualify with my wife on the loan and the per month went from 1900 to 2600 a month due to $500 PMI for 10 years! To say the least we are no longer interested in buying a house if the case is that we will be paying almost $1 million over the life of the loan and stretches us beyond the budget.
The builder is ryan homes and yes like a dummy signed a buyer contract on 8/15/16 before getting approved for the loan. Has anyone ever been able to back out of the loan and keep their deposit due to such condtions?
