Questions about a 'bank statement load'
Im currently in escrow on my new build home. The house was 350k. Upon meeting with the broker when it all began he said i needed to pay down my credit cards and save 10%. I thought id only have to save...
View ArticleStudent loans and DTI question
On another thread, someone mentioned that some people had had success getting around the requirement that 1% of the total student loan balance, rather than the actual payment on an IBR plan by...
View ArticleSuppose to close in 2 days.. Roof contractor to sign off holdup!
So just got a message from my lender that he is in touch with the roofing company to get the final sign off that the roof is ok. He says that is the only thing holding me up from final approval but my...
View ArticlePenFed low to no down payment mortgage?
Several months ago I asked if PenFed had a low down payment product like 1 or 3% and someone on this board told me the did NOT have any FHA/1st time homeowner load so I skippedcalling them. Now I came...
View ArticleMaking Progress Appraisal Back
Little by little things are moving along. My VA appraisal came back today with no red flags and no repairs required. The house appraised for $14,000 over asking price. I'm delighted. I'm told it now...
View ArticleNVR gave us a horrible rate, how do I back out of the buyer contract?
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...
View ArticleFrustrated.. usda loan help
Okay so here is the rundown of our situation. We looked at a house we wasn't planning on trying to buy just yet but we fell in love with it and it is big enough for our 4 kids to have their own rooms....
View ArticleBetter to lower DTI or Higher reserves? How to best qualify for FHA
Trying to decide what to do over the next 3 months to prep for a FHA mortgage application. Here are my numbers: 1. Mortgage Credit Scores: Mine : 638, 656, 656. This was back on August 15th. My...
View ArticleTimeframe for VA Streamline Refi and Should I
I just closed on Monday. My interest rate is 3.875%. I've seen rates for VA 3% to 3.25%. Going down to even a 3.5 will save me almost $200 a month. Does anyone know if there is a timeframe for the VA...
View ArticleMortgage Score Understanding
Hi forum, I need a little help understanding the different scores I'm seeing.. I applied for a mortgage a couple weeks back and got a dreaded denial. I know my credit history has been shaky (pre 2014)...
View ArticleFrom Bad Credit to Home in 8 months!
I wanted to share our mortgage journey: Starting scores: Feb 2016: (from myfico) 525, 555, 583 and 580, 595, 610.Ending scores August 2016: 610, 657, 666 and 618, 658, 680Purchase Price: $279,000Down...
View ArticleBurst my Bubble and help with best course of action
We found a house... We were about to go the FHA route but the house is a Fannie Mae, on the 20 day first viewing period. So our realtor said we should get a prequal letter and submit an offer.I did the...
View ArticleLoan Officer Question - # of Months of Payment from Spouse to count as income...
My spouse and I are legally separated (we have a separation agreement which is enforceable in MD) He is required to pay me $1000 per month of his military retirement. How many months does he have to...
View ArticleUSDA 502 Direct Loan (Acreage limits and new construction)
Hi everyone, I'd like to hear from anyone who has purchased land and built a new home on it using the USDA 502 Direct loan. I have my eye on 3 acres, that cannot be subdivided, in a small gated...
View ArticleDeclining Commissions & Exceptions
We are going to buy a house in the next few months. I have a base salary plus commissions. Last year I had an out of this world year and made a huge number. This year I had a baby and took maternity...
View ArticleGood Credit, Bad Credit and DTI
Long story short I have good credit and my husband has eh credit. Mine is in the 690s with the last of my baddies falling off in spring and his is in the 620s with a lot of work to do. My current debt...
View ArticleFirst time homebuyer with borderline case for application denial ? ... help...
I live in California. I am interested in purchasing my first home in Arizona. Monthly Gross Income in CA: $3975.00 -- I work as a consulting analyst in IT full time and have been with the same firm...
View ArticleToday we start the long journey ahead on a new construction!
Earnest money is being put today on a new construction after a pre qual for a 300,000 loan, we will not purchase a 300,000 as pur limit is 240,000 to try and stay within a certain budget monthly. Taxes...
View ArticleNaca
Hi all , may have to be moved to the Naca thread. Was wondering how bad does acquiring a new secured credit card hurt you in the buying process for Naca? I won't be qualified until at least March of...
View ArticleDTI Question
When a bank calculates your DTI Ratios do they do it based on your current housing obligation(mortgage) or what it is proposed to be?We will be below the max ratios either way, just curious as to how...
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