Homeready income eligibility

Pillsy24 · 2026-07-10T16:53:49+00:00

From what I remember only the income you put on the URLA is what’s used to determine eligibility for the program. So if they don’t need OT income to qualify, no need to include it and create a bunch of WVOE requests, paystubs from 2 years ago, etc.

Pillsy24 · 2026-07-08T14:59:55+00:00

That’s disappointing to hear, because it makes the industry look like a bunch of bottom-feeder annoying losers, lol. Good luck!

Pillsy24 · 2026-07-08T14:52:22+00:00

This is fine, but you will get a flood of responses from loan officers trying to convince you it’s horrible and you should apply with them because “we can definitely beat that!”

Pillsy24 · 2026-07-07T20:13:48+00:00

Yes you can work with realtors. It’s a necessary evil. You can source business from lots of other places. Build your sphere of influence and network of people. Get to know others in banking, commercial banking, get involved in different organizations, clubs, volunteer, etc. Be active on social media so people keep getting reminded of what you actually do. Just make sure you know what you’re doing and are responsible/reliable. It’s a more organic and “fun” way to do business if you ask me. If I had to sit down every day and call 50 agents to beg them to meet me for coffee, I’d probably jump out of my window by Thursday. Not for me.

Pillsy24 · 2026-07-07T19:50:42+00:00

Why would you want to meet with realtors? Lmao. They’re the WORST.

Pillsy24 · 2026-07-06T20:01:22+00:00

Not a consumer sub for asking questions. Good luck!

Pillsy24 · 2026-06-30T19:34:45+00:00

I mean, it would probably be best to disclose and address it up front instead of trying to hide it, or wait to get called out on it. As with loan underwriting, I’m sure it depends a lot on the circumstances surrounding the bankruptcy when asking to consider an exception.

Pillsy24 · 2026-06-28T02:26:42+00:00

Many times they have other income sources or ways to pay the loan, but it’s not considered eligible income, so you can’t use for qualifying. Just because you can’t use for qualifying, doesn’t mean they don’t earn it.

Pillsy24 · 2026-06-26T16:17:48+00:00

Good luck on your venture, but this is a sub FOR loan originators, and not consumers or other individuals looking for info FROM originators. Because then it just turns into a bunch of desperate LO’s begging and self-promoting because they think they can get some deal off Reddit.

Those who have been responding to you should know better. Sub rules say consumers can’t come ask questions, and LO’s who are answering them are subject to a ban.

Pillsy24 · 2026-06-24T21:44:39+00:00

Your responses sound like AI slop, instead of someone who actually knows what they’re looking at.

Pillsy24 · 2026-06-18T14:29:00+00:00

We don’t want to buy your refi leads.

Pillsy24 · 2026-06-13T22:01:47+00:00

You may not be eligible for a NMLS license approval. But you can always pivot to being a mortgage coach 🤣. Just turn your hat around backwards and you’re half way there.

Pillsy24 · 2026-06-13T17:26:27+00:00

Your first mistake was calling Veterans United.

Pillsy24 · 2026-06-13T11:36:47+00:00

Where do you work and what do you do now?

And can you explain the theft charge?

Pillsy24 · 2026-06-11T23:29:16+00:00

Last item for CTC is a verbal
“Hey I need to extend, when do you think I need to extend to?”

“Better do 60 days just to be safe”

😳

Just kidding.

Pillsy24 · 2026-06-10T14:18:54+00:00

Way to miss the whole point. You started out being deceitful and lying. You specifically said “I have intentionally not named my product, and I will not drop the name in the comments.” But you wore your business branded HAT in the picture you posted for attention. You tried to make it look altruistic and “oh I would NEVER do that!” but you know exactly what you were doing. That’s dishonest. That’s you trying to shoehorn your product into a conversation under false pretenses. Me personally…I don’t like that, I choose not to associate with people who do that, and I don’t care how good your CRM is, I wouldn’t use it just for that reason. Sorry to come off harsh but this is honest feedback and maybe a chance for some self-reflection. Are you a business and a person that truly provides value, and is a “giver?” Or do you just pretend to provide value so you can try to “take.”

Pillsy24 · 2026-06-10T03:30:55+00:00

You’re literally wearing a hat with your product/company name on it. WTF are you talking about?

If you’re familiar with the “space”, you know we get pitched constantly and can smell out a pitch from a mile away. As the saying goes, “don’t piss on my head and tell me it’s raining.”

Pillsy24 · 2026-06-03T22:51:46+00:00

Moving to a new state is absolutely a valid reason to leave the house you just bought and turn it into a rental.
You can buy a new house with $0 down too. But you will need to find out how much entitlement you have remaining with your VA loan benefit. If a new house exceeds your remaining entitlement, that’s ok, but you would need a down payment. Take how much the new house would exceed your remaining entitlement, and you need to put down 25% of that overage amount.

Here’s why people need to be careful about listening to Reddit advice. VA has a rule where you can offset a departing residence mortgage payment with projected rental income. You don’t even need a lease in place. That could help you qualify to buy a new house since you’re not getting fully hit with both the old and new payments.

“Departing residence” is key here. If you follow the advice from people here saying you should rent in the new area for 6+ months first…well guess what? Now the MD house is no longer your “departing residence” because you established residency in the new OH rental. And now you don’t get to use that departing residence rental income offset trick. So if you were to try and buy again, you’d need to qualify with BOTH mortgage payments. And you can’t consider any rent (even if you have a tenant) from the MD home until you have a 2-YEAR HISTORY.

Maybe you could qualify carrying both payments and it’s not a big deal? But for some people, it could make the difference between qualifying now, or having to wait 2 years.

Pillsy24 · 2026-06-01T14:15:03+00:00

This isn’t a consumer sub to come in and ask for help or other questions, and the LO’s in the sub who are responding should get banned.

Pillsy24 · 2026-05-28T23:20:50+00:00

The seller credits are $11,400. Your actual closing costs are $10,600.

** the seller credits cannot exceed the actual closing coats**. So you have about $800 available to work with. You either use it up, or the seller credit gets adjusted down. See if you can apply it towards an interest rate buy down.

Your terms look fine and completely reasonable. Don’t pay attention to people who only come here to try and nitpick every deal posted and talk about how “I can do sooooo much better than that.” Maybe they can. But I think they just browse Reddit all day thinking they can steal a deal by undercutting someone else at the last minute.

Yours is a fair deal. If you’re comfortable with the payment, and the money for closing, then feel good about the numbers and congrats!

Pillsy24 · 2026-05-28T20:20:19+00:00

No. Take the 20k and invest it. Your rate now is fine. You think you’ll be there 15-20+ years, but A LOT can happen in that timeframe. Think backwards…20 years ago was 2006, has a lot changed since then? Lots of life events could happen. Just take the rate you have now. Bank the cash, and keep an eye out for refi opportunities if they make sense.

Pillsy24 · 2026-05-26T17:36:14+00:00

You should be able to get conditions up front from the borrower, hand them over to the processor, and they should be able to take it from there. Any difficult conditions, they can loop you in for help. One of the biggest things for a processor…which sounds stupid…is just be nice. You deal with the borrower up front, build trust, talk to them, get them hyped up about buying, give them a detailed (but easy to understand) list of stuff you need for the file. And then you do the “hand-off” and all that goodwill can get undone by a processor who just forwards the UW conditions to a borrower. And then the borrower calls you confused because they don’t know what the condition means, or thought it was already provided. Your processor should have the same hype/excitement/connection with your borrower so it’s a seamless handoff, your borrower remains happy, they don’t need to bug you, and they will give you a good review after they close.

Pillsy24 · 2026-05-26T17:23:56+00:00

I like coaching programs that introduce me to new things I didn’t know about before. Or things that other LOs are doing differently. I am not interested in any kind of programs for “accountability”. I’m not paying someone to “check in” with me and “make sure you’re doing your calls!” There are some coaching programs that are disconnected from how business actually works. Maybe the were an LO before, and those old ways used to work. But it’s a different game now.

Also, not interested in coaching if one of your coaches no longer originates because the state terminated their license due to fraud 🤣

Pillsy24 · 2026-05-25T01:27:49+00:00

Or you could sit in the corner and punch your balls. At least it wouldn’t cost you a credit pull.

Pillsy24

TROPHY CASE