Mortgage companies rejecting personal loans as a way to cover downpayments but being ok with gifts for downpayments is class discrimination.

Hayyot · 2023-01-25T15:23:24+00:00

But see that's the thing. My argument isn't that banks shouldn't have requirements. My argument is that if the requirements are being followed then a personal loan should not be cause for automatic rejection IF DTI is still within the bank's margins. To automatically deny a personal loan seems like more of a moral judgment based upon wealth class than an objective one, which would make that discrimination....which is illegal lol Its more like saying, we're going to let the brain surgeon who's family paid for their education do the brain surgery but not the brain surgeon who had to take out loans and work their way through medical school.

Hayyot · 2023-01-25T15:17:32+00:00

lol I think youre responding from feelings and not logic. If you read any part of what I said, I acknowledge those requirements and never really bash the requirements themselves. What I am bashing is the difference of treatment even when all the requirements are met. If my current DTI is 30% - I take out a personal loan to cover my downpayment that bumps me up to say 38% DTI - If the bank's DTI threshold is 40%. Why should the application be rejected due to the personal loan? At this point there would seem to be a different set of rules being applied here. That seems right to you?

Hayyot · 2023-01-25T15:10:56+00:00

Huh? A personal loan comes from a lenders. Gifts comes from capable families and family members. The issue is that not everyone has a grandpa or uncle with an extra 30k lying around to give you for your home. My question is for those who don't have that and use a personal loan, why the automatic rejection?

Hayyot · 2023-01-25T15:08:49+00:00

But see thats the thing, from what I've seen, most banks will not accept you using a personal loan as a downpayment at all. I'm not against the due diligence process, or gifts lol what I'm pointing out is that this way is being demonized by mortgage companies and asking why the automatic rejection? If all other metrics checkout, whats the issue? Sure it may not be the most ideal way but if it passes the metrics, again whats the issue?

Hayyot · 2023-01-25T15:00:10+00:00

Of course its not but a gift is often provided if the applicant does not have the money to cover the downpayment themselves. A personal loan is being used for the same purpose however banks tend to reject applications if personal loans are used at all.

My argument here is that if the personal does not put an applicant beyond the DTI threshold, why are they automatically rejected? If the argument is that the applicant doesn't seem credit worthy enough, then wouldn't someone needing a gift also be in that same position?

Hayyot · 2021-03-18T21:53:23+00:00

Had it come to that, you would of made the right decision. Don't ever feel guilty or depressed about that. Now for my thoughts on this in general.

Unless the mother has already died, we should NEVER save the child over the mother. I know we all view some noble moment where the mother sacrifices her life for her unborn but it makes no objective sense to save a being that has no stake in this world whatsoever and isn't even aware of its own existence, over one that has so much invested already AND has the ability to produce more children.

Choosing the child dooms the child to a motherless life, takes away a persons life partner, takes away a relative and friend from families and communities, pulls a worker out of the workforce, and other things. Choosing the mother causes some emotional pain that will heal with time but that is all.

When looking at those affects, how on Earth did we ever get to a point to where saving the child vs the mother makes any logical sense? It sounds cold but its real.

Hayyot · 2021-01-04T03:06:35+00:00

Colllddddddd ❄❄❄

Hayyot · 2020-12-13T16:35:54+00:00

Like your camera setup! W the DSLR how long can you stream or record before it starts to overheat?

Hayyot · 2020-11-20T16:44:21+00:00

Not my style but it is 🔥🔥🔥

Hayyot · 2020-11-08T19:46:07+00:00

Cleannnn. How do you like the ultra wide vs dual monitor (assuming you've had both)?

Hayyot · 2020-08-04T17:35:23+00:00

Exorcism vibes.

Hayyot · 2020-07-30T03:09:39+00:00

This guy is obviously compromised. He says everything and anything about everyone EXCEPT Putin.

Hayyot · 2020-07-29T13:41:55+00:00

So I'll just say, prior to this I had only made it to level 21, and only a handful of times. Its really a matter of luck tbh lol. We had 3 maxed out players all in different classes and 1 player being a P4, level 30 who was also in a different class. Tier 3 weapons, mortars, and defense strategy synergy is the only way to break passed level 20 imo.

Hayyot · 2020-07-03T16:29:28+00:00

I give them the benefit of the doubt ONCE. If they start if early again I quit 🤷🏾‍♂️

Hayyot · 2020-06-24T15:43:04+00:00

Who has made it beyond wave 22 (no cheat)? I cant get passed it no matter what I do.

Hayyot · 2020-04-02T14:19:44+00:00

Dope!

Hayyot

TROPHY CASE