I’m doing this for a friend: Their info: Income 42k House they are looking at 65k Their down payment is 4.2k (using part of Stim check) Credit: 720 via Credit Karma (idk if that’s accurate or what) Question, they can’t use their Stim check for a down payment correct? submitted by /u/badideachechkycheck [visit reddit] [comments ..read more

Is the rate sheet filled with points or can you find a par rate anywhere? Is it the same for all your sub 680 ficos? Particularly FHA submitted by /u/KimJongUn_stoppable [visit reddit] [comments ..read more

Here’s a copy paste from chase regarding my mortgage. What are the odds that this can be simply added to the end of my loan? It’s nearly impossible to speak to someone and all emails receive this response : We are providing the following protections on your loan for 90 days: - We will not charge late fees - We will not report late payments to the credit-reporting agencies, but previously reported information will not change. As a general rule, we will resume regular credit reporting at the end of the 90 day protection period and any late payments may be reported at that time - If your propert ..read more

How do student loans factor into DTI for a mortgage? Situation: I’m set to graduate in Nov/Dec (COVID depending) but plan to buy a house in May/June. I have enough $$ to cover down payment and closing. How do they factor my student loans that are deferred until 2021 per the lender into my loan? submitted by /u/studentloanssuckbad [visit reddit] [comments ..read more

Anyone had any experience building from ground up with a USDA loan? My husband and I have 5 acres outside of Atlanta and would love to obviously build on it and it’s possible the area is rural enough for the loan. Experience? Tips? Things to know? TIA! submitted by /u/kerri_on [visit reddit] [comments ..read more

should I open more CCs before applying for a mortgage? Total cards: 6 Combine limit: 21k Utilization: 13% Score: 702 House: 65k Income: 40k DTI: 32% submitted by /u/mortgagejinxjinx [visit reddit] [comments ..read more

I will save a little, but i have to buy down the rate quite a bit to get my earlier rate AND pay nearly 200 in PMI. The pmi is also pretty steep. If I cancel this loan, what happens to my appraisal ? If I find another lender who will give me a favorable rate, can i transfer my appraisal or should I/can i get another appraisal ? submitted by /u/NumerousIdeal [visit reddit] [comments ..read more

I'm not sure if the closing disclosure rules are different for investment properties, not requiring a three day waiting period after receiving the CD, or if the rules are exactly the same as for owner occupied. submitted by /u/MellowRuse [visit reddit] [comments ..read more

Combined annual gross income is $147k ($67k is non-taxable) Combined annual take home income after taxes is $138k. Monthly take home is $11.5k (after taxes) with $2.5k in liabilities. Credit scores are 775 and 810. Any way to figure out pre-approval amount? We are hoping for $300k loan. Edited to include gross income submitted by /u/markymark80 [visit reddit] [comments ..read more

I've got a refinance scheduled to close 4/23 and fund 4/28. I just received my CD which shows the "Payoff" to my current servicer as $363,210.09. However, I have an official payoff quote from my current servicer that shows the "total payoff amount" as $361,756.72 "good through 5/6". The "payoff estimate" on 4/28 (when my refi is scheduled to fund) is $361,645.40. Any ideas why the new lender and old servicer payoff amounts would be different? Thank you. submitted by /u/bacontrees [visit reddit] [comments ..read more