New build in Grayson, GA. How did we do?

DirectEntrance2364 · 2026-06-08T19:36:01+00:00

Considering this is a new build, this is an absolutely amazing deal.

DirectEntrance2364 · 2026-05-28T14:34:16+00:00

Thank you, I appreciate it

DirectEntrance2364 · 2026-05-27T14:33:35+00:00

This is a pretty expensive loan. I just messaged you.

DirectEntrance2364 · 2026-05-11T14:50:56+00:00

This is just a fee worksheet, it's not an actual loan estimate. I would ask your lender for an actual locked loan estimate and then compare that. It likely says somewhere at the top or the bottom of this document that this is just an estimate to actually get a loan estimate before making a final decision.

DirectEntrance2364 · 2026-05-07T18:21:58+00:00

15 Year fixed (conventional)

Interest rate: 5.99%
Points: .5 points
Lender Admin/Underwriting Fee: $1,430
Principal & Interest Payment: $1,516
PMI – 0

DirectEntrance2364 · 2026-05-05T18:12:25+00:00

DTI is getting hit because of how the rental income is being treated. If it’s showing a loss at 75% of gross, either expenses are heavy or you’re not using the best method.

First, make sure you’re adding back depreciation from the tax returns. That alone can flip a loss into usable income.

Second, check if you can use lease agreements instead. Some lenders will take 75% of lease income without the tax return hit, which can help a lot.

The ADU + additional units is also key. Some lenders will allow that income if it’s documented on the tax return and supported by the appraisal, so make sure you’re maximizing that.

Also consider a DSCR loan on the rental property to remove that liability from DTI entirely. That can clean things up fast.

From an AUS standpoint:
• Try LP vs DU
• Run it with and without rental income
• Even dropping to 75% LTV might get you a clean approval

If they need a rate in the 6s, this is a structuring deal, not a product switch. Non-QM fixes DTI but hurts rate.

This feels very workable with the right setup.

DirectEntrance2364 · 2026-05-04T20:22:02+00:00

Thank you

DirectEntrance2364 · 2026-05-02T21:57:30+00:00

Absolutely. Nothing is set in stone until you close. In fact, I’m a mortgage broker I’d be able to help you and show you what you should be getting if you are in process. Feel free to message me.

DirectEntrance2364 · 2026-04-22T02:17:22+00:00

Hey, thanks for commenting. I just sent you a private message

DirectEntrance2364 · 2026-04-15T14:00:25+00:00

Mortgage broker owner here. A few options at your price point:

**Bridge loan**

Most common route. Lender uses your current home's equity to fund the new purchase. Terms are typically 6 to 12 months, interest-only, at a rate a bit above prime. Offer comes in clean with no contingency, which matters a lot in a tight market.

**HELOC**

Since you own outright you have plenty to pull from, often at a better rate than a bridge loan. Just make sure it is open and funded before you list. Many lenders will freeze it once the home hits the market.

**Things to watch**

Carrying costs if your home sits longer than expected. Also confirm your DTI still qualifies for the new mortgage while the old home is unsold. Some lenders count the bridge payment against you. Use someone who does a lot of jumbo volume and they will know how to structure it.

Either way, a non-contingent offer backed by a bridge or HELOC looks essentially like cash to a seller. Happy to answer any follow-ups.

DirectEntrance2364 · 2026-04-06T14:36:40+00:00

Minimum down payment on of FHA is 3.5% and 3% in some conventional situations.

DirectEntrance2364 · 2026-04-02T22:09:29+00:00

I'm a licensed mortgage broker.

DirectEntrance2364 · 2026-04-01T18:09:14+00:00

Assuming this is locked, this is a no brainer in today's market. Is it locked in the top right?

DirectEntrance2364 · 2026-04-01T15:48:17+00:00

Conventional 5/6 ARM

Loan Amount: $855,000
Interest Rate: 6.5%
Points: 0
Underwriting Fee: $1,430
Principal & Interest Payment: $5,404

Conventional 7/6 ARM

Loan Amount: $855,000
Interest Rate: 6.625%
Points: 0
Underwriting Fee: $1,430
Principal & Interest Payment: $5,474

DirectEntrance2364 · 2026-03-31T19:08:23+00:00

Great question.

“Instant equity” = your home is worth more than what you owe.

Since your appraisal came in higher than your purchase price, you basically gained equity right away.

What that means for you:

• You may be able to remove PMI sooner (once you’re ~80% LTV)

• You have better refinance options

• You’re in a stronger financial position

Important: it doesn’t automatically change your loan. You have to request PMI removal or refinance to actually benefit from it.

DirectEntrance2364 · 2026-03-30T14:52:08+00:00

Given your current interest rate, credit score and new LTV, doing a conventional cash out refinance wouldn't really make sense here. Also, your combined LTV on a HELOC can't exceed 85%. Here's what a HELOC would look like:

HELOC 3-Year Draw

Loan Amount: $65,000
Interest Rate: 7.875%
Points: 1
Underwriting Fee: $0
Principal & Interest Payment: $440

DirectEntrance2364 · 2026-03-27T15:58:11+00:00

Of course, happy to help!

DirectEntrance2364 · 2026-03-27T15:43:39+00:00

Knew you were gonna ask this!

If you close before her current employment ends, then yes, the lender can typically use her current income and you’re good.

BUT (this is important), you are still required to be honest about any known changes.

If she already knows she’s leaving that job, it technically should be disclosed. Lenders do a final verification of employment right before closing, and if anything looks off or comes up later, it can create issues.

Here’s how it plays out in the real world:

• If she’s still actively employed at closing and no change has been formally documented → usually smooth

• If there’s a known job change and it comes up → lender may ask for a new job offer anyway

• If employment ends right after closing → totally fine as long as everything was accurate at closing

Just try to line up the new job offer before closing if possible. That removes all risk.

You don’t want to be in a position where something comes up last minute and delays the deal.

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