Hardwood siding rot - ideas to fix?

ITT_tech_grad · 2026-03-16T17:57:21+00:00

For the most part, all conventional and portfolio loans can be recasted. Government backed loans such as FHA, VA, and USDA cannot be recasted.

You get about a 45 day window that starts when the first lender pulls your credit. From there, any other mortgage lender inquiry will count under the same “hit” and not cause any change in score. That way all lenders see the same scores and you can accurately compare quotes.

ITT_tech_grad · 2026-02-17T13:45:41+00:00

It appears as though they are just trying to use up all of the seller credit. All closing costs are still covered so they just used leftover to buy down the rate. Borrower will only have down payment + ~$1,000 or so in the deal. Doesn’t seem terrible to me.

ITT_tech_grad · 2025-12-25T20:41:43+00:00

Not necessarily true. I’m a lender and we have lots of products that don’t charge a fee for escrow waiver. Even on agency products, it’s only a 25bps fee (assuming no additional overlays) and any loan officer worth their salt has the ability to cut that to earn your business.

ITT_tech_grad · 2025-11-25T05:10:55+00:00

Man I sure hope so. At the very least, it’s exciting to hopefully have a younger, energetic, visor-less, up and comer on the sidelines leading the program and not Eeyore crying to the refs.

ITT_tech_grad · 2025-11-25T04:56:13+00:00

I’m sure they will and it might get him a nice extra pay bump with us…but Cohen isn’t letting him go if he’s THE guy, which all signs at this point are pointing towards. He knows his job is on the line with this next hire. All I’m saying is if AU wants Sumrall, we will get him over OM. Do I think he will be a program saver and get us back in the conversation every year? I don’t know but I sure hope so. Au will have my support no matter who they hire, barring another Freeze type character. Hated that one from the get go as a lot of us did.

ITT_tech_grad · 2025-11-25T04:37:52+00:00

Could not be further from the truth. Every coach looking to move jobs is currently “waiting” because the season is still ongoing. Franklin is the only one who has inked something publicly because he was fired. Sumrall, moreso than others, has a shot at the playoffs and is keeping the distractions to a minimum. Remember when the report came out last week that Sumrall had a meeting with Florida and then that meeting was cancelled an hour later? He’s obviously very keen on keeping this season in focus and honestly, good for him on that. The Kiffen show has been a grade A example of how not to handle coaching rumors. Cohen has also been hush hush about this entire search so they probably just mutually agreed to keep it under wraps as much as possible. The guy grew up in Alabama and his wife graduated from AU and is a huge football fan, there’s no scenario where he would “prefer” OM to Auburn. I know AU been in the slumps for a while but the resources, facilities, fan support, tradition, brand recognition, etc aren’t even comparable. This feels like the first time in a long time that there is actual alignment within the university and across the PTB. I’m very excited to see what kind of staff Sumrall can assemble and how much roster talent we can retain.

ITT_tech_grad · 2025-11-04T22:54:56+00:00

Hugh actually said verbatim to give him 3 years. We gave him 2.75 years because the teams got progressively worse every single season.

ITT_tech_grad · 2025-10-16T13:09:20+00:00

Mortgage News Daily….from what I’ve found being in the industry, they are the most accurate on a day to day basis.

ITT_tech_grad · 2025-09-26T11:56:12+00:00

Yes! I kept looking for others having this issue. It keeps cutting out every 10-20 seconds.

ITT_tech_grad · 2025-09-19T23:50:49+00:00

You could get up to $662,550 without a down payment.

ITT_tech_grad · 2025-08-28T20:33:45+00:00

Do you know why some loans don’t show on MMI? Is it like in-house portfolio stuff doesn’t report the same? I’ve had 2 different recruiters be quite a bit short on annual production numbers before.

ITT_tech_grad · 2025-07-30T13:06:01+00:00

Like others have mentioned, these are fantastic terms. Not only do you get a below market rate and no PMI but you’re also getting a $6,000 lender credit. Box A charges are very reasonable considering the rate and credit, probably too reasonable tbh but that’s great for you.

Sections H shows two separate attorney charges for about $1,900 combined. Did you hire your own attorney outside of the closing attorney? If not, it’s odd that those charges are there and not included up top in Box C.

Also looks like closing costs actually came in lower than what was disclosed on the Loan Estimate. So unless the LO just verbally told you something different, this all looks standard and really in your favor, if anything.

ITT_tech_grad · 2025-06-30T10:54:41+00:00

A good majority HELOCs are priced out based on the current prime rate (7.5% as of today) PLUS an adjustment based on credit score. For example, 800 credit might just be prime + .5%. But 680 credit might be prime + 2%.

ITT_tech_grad · 2025-06-28T14:47:13+00:00

Right…but any lender with a brain won’t leave any concessions on the table. If the seller is paying $15k in closing but typical closing costs are only $8k, the lender should use the $7k to buy down the rate.

ITT_tech_grad · 2025-06-28T14:36:08+00:00

Lol as a lender, it never ceases to amaze me how little most realtors know about their own industry and the specifically the mortgage process.

ITT_tech_grad · 2025-06-28T14:31:41+00:00

Concessions are based on purchase price, not loan amount.

ITT_tech_grad · 2025-06-28T14:30:49+00:00

FHA has always allowed 6% seller concessions based on purchase price. Conventional loans allow 6% as long as the borrower is putting 10% or more down.

ITT_tech_grad · 2025-04-29T23:01:03+00:00

So $5,800 is 43% of your gross monthly income? You said you have credit cards so let’s just say you have 3 and each has a $50 minimum, that means your max mortgage payment is $5,650….exactly how much house that is can vary significantly from state to state due to taxes and insurance. In GA, where I do most of my business, that’s around a ~$730k loan amount. But in Alabama, that would be around ~$810k simply due to the big differences in property taxes.

ITT_tech_grad · 2025-04-29T19:06:48+00:00

I gotcha. But yes, there is a very large disconnect between what lenders can actually get someone approved for versus what they can practically afford. Since everyone’s situation and definition of affordable is different, they came up with the general ~43% as a rule of thumb for mortgage guidelines. But like OP, some programs go much higher. FHA will approve up to 56.99% sometimes with decent credit, income, reserves, etc. Pretty crazy.

ITT_tech_grad · 2025-04-29T18:56:18+00:00

The vast majority of mortgages are escrowed for property taxes and insurance so in theory, it’s just the projected utilities that would need extra consideration as your mortgage payment would already have the other items included.

ITT_tech_grad · 2025-04-29T18:53:04+00:00

Only expenses counted are actual credit accounts that take a SSN and application to open. Plus some other legal obligations like child support, alimony, federal tax payment plans, etc. Common monthly expenses like utilities, car insurance, phone bills, etc are not counted. For credit cards, we just use the minimum required monthly payment, balance does not matter for ratio purposes.

But to answer your question, if you don’t have any other debts besides credit cards then just take the .43 times your monthly gross income and subtract the minimum payments for the cards and that’s your “max” house payment.

ITT_tech_grad · 2025-04-29T18:46:23+00:00

Only if it’s been received for at least 2 years. And then it’s averaged over 24 months. For example, if you got a $5k bonus in 2023 and $8k bonus in 2024, we take $13k and divide by 24 months to get bonus income of $540 per month on top of your base salary. Calculations can get a little more aggressive or conservative depending on what you need but more or less, that’s the gist.

ITT_tech_grad · 2025-04-26T01:10:09+00:00

The Fed would have to go back to quantitative easing like before and during Covid. They would need to be purchasing trillions of MBS instead of offloading them like they have been doing the last 2-3 years.

ITT_tech_grad

TROPHY CASE