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Reduce Utilization - Middle Score Impact
Hey! I am new to the mortgage game, and I am looking considering seeking pre-approval for new construction on my first home. I have a question about score updates. Currently my utilization on my...
View ArticleMortgage as self-employed but also W2 income
I own a business (LLC taxed as S-corp) but I pay myself as an W2 employee, so I have 2 sources of income listed on my personal tax return (W2 and K-1) I'm trying to figure out the best way of paying...
View ArticleDO I HAVE A CHANCE
Hello I have been reading these forums for awhile but new to posting. My question is I want to know if it is possible to afford a 110K house on 40k salary. I have only about 350 monthly debt. I have...
View ArticleWill running my credit drop my score?
I'm in the process of trying to get pre-qualified for a mortgage and the Lender I'm going through requires at least a 660 middle score. When they pulled my credit in February my score was a 641. I've...
View ArticleFHA loan requirements after BK7
Hi everyone, from what I have read on here it is 2 years post BK7 to qualify for FHA home loan. Maybe something has changed or I read it wrong so could someone like Starting Over please clarify. My BK7...
View ArticleAny issues with this FHA scenario? Maybe Conventional?
I was wondering if anyone could help me out with this scenario and let me know any issues you think might arise. I will be talking to a LO soon but I like to do my own research to enable a more...
View ArticleVA Loan clear to close but drop in credit
Hello!So my husband (a veteran) and I are in the process of closing on a VA loan. My husband's middle credit score was 669 and mine was 701 when we were pre-approved on April 4. Now, my husband's...
View ArticleNew to purchasing a house!
Hey guys, my fiancée and I are getting married in June. After that we would like to slowly start looking at houses and see if we like any neighborhoods in the area. We live in northeast PA. I am new to...
View ArticleUnderwriting Rant
So my application was moving right along until 2 weeks ago. I was approved and all my conditions met. Now due to my closing date in the contract being May 6th its just sitting at the underwriters desk....
View ArticleOld Debt off Credit Report
Just trying to gather as much information as possible before I apply for a mortgage. I'm targeting July 2017 as that is when my rental lease will expire and it gives me plenty of time to clean up the...
View ArticleCTC but waiting on Closing Disclosures....
We got the formal CTC notice Saturday, and my LOnsaid the closing disclosures should come by tomorrow. I know the escrow agent needs to review and approve them before they're sent out, correct?Seems...
View ArticleLoan Officer questions?
So here's my situation: A friend recommended a loan officer for me to do a cash out re-finance. LO looked over my information and said we could get approved for 100K cash out and 3.8% FHA loan. Our...
View ArticleCAIVRS Question??
Hi Everyone, this is my first post!!! Newbie....lol. Anyways, I have a foreclosure from a couple of years ago. I filed a Chapter 7 in 2006 and discharged two months later. Countrywide sold the loan to...
View ArticleJune 2016 Closers
June closers roll call!! Where ya at? Purchase Price: 113,300Location: IllinoisProperty Type: Single FamilySigned Contract : 04/26/2016Type of Loan: USDA DirectLoan Amount: 132,456Loan Rate: 3.0Loan...
View ArticleDTI and zero balance credit cards
In January of this year I applied for a mortgage loan and was pre approved. Lo and behold in the end I was not given the loan due to many factors. The last LO who was helping us mentioned to us that...
View ArticleWhat would you recommend?
I am planning to go under contract on new construction in the fall which would give me enough time to pay off my auto loan as well as save up for the $5k earnest deposit and begin saving for the...
View ArticleClearing Up The "Clear To Close" Confusion
It seems as if there has been a lot of confusion around Clear To Close (CTC). Just to be clear, there is no official CTC timing within the loan process. A typical files goes like this (at least in...
View ArticleUSDA help
Okay so thanks to this forum I discovered USDA. (Admire you guys!) On Wednsday I am going to talk to this (hopefully nice) lady from my local area regarding USDA and other interesting services I wasn't...
View ArticleNew at this mortgage process
Put in offer on new construction and submitted all bank documents to the lender last Tuesday for a VA loan. Lender notified us we are currently 'in processing.' Just curious as to how long the...
View ArticleLast 12 Month regarding inquiries
When applying for a home loan do they look at how many inquiries that you have had in the lasy 12 month? or the last 2 years?
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