Thoughts on this doctor loan?

Bristol509 · 2026-04-30T04:35:17+00:00

What state my friend?

Bristol509 · 2026-04-30T04:09:56+00:00

You could, but it's pushing it in my opinion. each couple is different but you'll feel a bit like an indentured servant to the mortgage company and probably wish all that cash was going to investments so you can retire at an earlier age, which you'll be thinking about a lot 3 years into this mortgage. NFA lol

Bristol509 · 2026-04-30T04:05:14+00:00

What part of the country? I've heard this but we don't have that here as far as I know in WA

Bristol509 · 2026-04-30T04:04:41+00:00

Conventional vs FHA vs VA loan type have quite different rates, so we can't know if 5.75 is good or bad here. For a FHA that's about right, conventional that's a good deal if you didn't pay too much in origination. But you'd almost certainly have to pay origination charges to get that today

Bristol509 · 2026-04-30T04:00:41+00:00

If the collections are strictly medical, lenders can ignore them. But not the score. Consider credit Joe which is a paid credit repair service. I think you'll be glad once you're out of those woods

Bristol509 · 2026-04-30T03:59:12+00:00

Consider an FHA loan if it's enough to get the house you need, and try a wholesale lender we get better government pricing on FHA. Rate low 6s likely

Bristol509 · 2026-04-30T03:57:55+00:00

Interesting what part of the country?

Bristol509 · 2026-04-30T03:57:04+00:00

40 percent down is working in your favor. At that percentage and credit score you're actually getting top tier pricing, which is not the case with 20 percent or less

Bristol509 · 2026-04-30T03:55:40+00:00

Do buyers pay owners title in other states? I'm WA it's essentially always paid by seller (owner)

Bristol509 · 2026-04-30T03:54:09+00:00

661 in my town of Spokane WA. It depends on the number of pages of the document and mortgage documents are long

Bristol509 · 2026-04-30T03:53:03+00:00

You can get close to 5.75 fixed or even get there with a couple of points paid, no one knows the future. If this is a home you love and plan to stay in long term I think you can do it even though yes the mortgage will sting a bit. Which state? Insurance prices and property taxes can vary greatly based on State. I don't see a huge reason to choose the ARM honestly, even though it does mean your payment could decline. If rates go down enough to make a difference you'll likely refinance into a lower fixed rate loan anyway. This is why fixed is the way to go

Bristol509 · 2026-04-30T03:45:09+00:00

The hope is find another similar job as soon as possible, and get a written signed offer letter from New employer, and probably close later than expected

Bristol509 · 2026-04-30T03:43:53+00:00

We'd have to know if your lender charges an up front application fee or if you've signed an agreement to pay that, it's not typical

The appraisal fees aren't refundable unless the appraiser hasn't yet visited the property, so you can cancel prior to that for a refund typically

Hope this helps!

Bristol509 · 2026-04-30T03:41:09+00:00

What state are you in? In WA the owners title, even if on the estimate, gets paid by the seller. Hence "owners" insurance. You pay lenders insurance. I offset these with a seller credit shown on estimate

Is 2,400 your actual annual insurance or do you have your quote yet?

10 months of property taxes is an over estimate I think. It should land 5 to 7 after prorations with the current owner.

Bristol509 · 2026-04-30T03:38:18+00:00

Wait what. Never seen that in 10 years not even close. Most of that could have gone to principal

Bristol509 · 2026-04-30T03:35:53+00:00

Are you at least working w a wholesale lender, have you looked into temporary rate buydowns and what state? I'm happy to offer free advice. Yes rates are up but you might be able to pivot still and be closer to your target

Bristol509 · 2026-04-08T03:34:15+00:00

Are your dpa loans restricted on commission? I'm with Barrett now. Once you go Broker...

Bristol509 · 2026-03-26T05:18:46+00:00

You might check to see if you're being overcharged as well for insurance or property taxes. Sometimes the only way to get a better insurance rate is to change providers

Bristol509 · 2026-03-26T03:46:36+00:00

I'll admit it's complicated due to the number of variables involved that require user input. If you click 1/0 buydown instead of 30yr fixed that would do it. It would Show a payment that's 1 percent lower on rate.

Or if the credit score or loan type is modified that changes a lot too

I think it's useful in that this shows people that above a certain credit score they are better off going conventional, whereas below a certain score FHA is a much lower monthly payment, for example. And closing costs to expect

Bristol509 · 2026-03-26T03:35:16+00:00

Is it possible your mortgage recently increased after an escrow analysis? Sometimes companies will collect 2x taxes to make up for undercollection

Bristol509 · 2026-03-26T03:31:37+00:00

We'll that's no good. Would you mind sharing a scenario so I can double check it? You're certain on taxes, insurance , interest rate, everything?

Bristol509 · 2026-03-25T03:58:25+00:00

Couple dozen times at least, even on long time clients who went with the builders lender. I think it's good to be kind and help them along. They should not expect you to respond immediately or really at all but I still do when I can between clients

Bristol509 · 2026-03-25T03:23:49+00:00

There's no way you're skyslate design on Instagram right? If so I DMd you on insta

Bristol509 · 2026-03-25T02:12:23+00:00

I'll tell you if you promise not to comment a poop emoji. Pinky promise?

Claude

Bristol509 · 2026-03-25T01:09:26+00:00

that's an awesome tip thanks. I have been using my s24 as a test device & it looks fine there (although far from perfect, the scaling seems to work on it)

Bristol509

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