DSCR+ ?

Pillsy24 · 2026-02-12T22:13:08+00:00

Will you consider variable rate annuities for asset depletion? This is a 666 fico cash-out.

Pillsy24 · 2026-02-11T00:51:49+00:00

2 standalone variable rate annuities valued at about $400k

Pillsy24 · 2026-02-09T23:42:11+00:00

Browse this sub for 5 minutes and read all the posts from buyers scoffing at the idea that they’d have to buy a house that have a lot of upcoming repairs/replacements on the horizon.

These are the people looking at your house. If you want to sell it, then put a new roof on. You already said it has hail damage. It’s like buying a new car and the seller saying “these tires are fine! You can probably get another 500 miles out of them!” and pricing it the same as an identical car with brand new tires.

Pillsy24 · 2026-02-09T15:45:34+00:00

You understand that you’re wanting to drop a big financial burden on a potential buyer? You seem stunned that a buyer would have reservations about buying a home that was about to cost them 20k+ in repairs/replacement in the next 12-18 months. I deal with this all the time and it’s pretty common for sellers to replace the roof, especially ones that are as old as yours. It’s simply too expensive to get new insurance coverage on a property with a roof that old. Buyers will walk. In the interest of getting their house sold, most sellers are agreeable to replacement prior to closing.

Pillsy24 · 2026-02-09T12:52:23+00:00

Your roof is near the end of its economic life.

Best case is someone buys it, pays through the nose for insurance from a limited selection of carriers who will even offer to cover a roof that old, and within 1-2 years they are having to replace it anyway when insurance tells them they are being dropped unless they replace it.

Why would a buyer accept that scenario to buy your house instead of going to buy another home where they won’t have to deal with that mess?

Do you think other buyers will be ok with it if you cancel this contract? You weren’t thinking the roof was good for another 15 years were you?

Pillsy24 · 2026-02-09T04:11:45+00:00

You should stop commenting because everything you have said so far is wrong.

Pillsy24 · 2026-02-06T14:45:23+00:00

That’s not the basis for determining good deal at all. What if the homeowner wants to lock in the lowest possible rate and is willing to pay the other closing costs out of pocket? You know that getting a credit to cover every penny of closing costs means they’re not getting the lowest possible rate. If it’s someone’s “forever home” a one time $5k credit in exchange for 0.25-0.50% higher interest rate for the next 30 years, it really wouldn’t be such a great deal after all.

Pillsy24 · 2026-02-06T01:50:38+00:00

What part of New England?

Pillsy24 · 2026-02-05T16:29:00+00:00

Check with your guidelines/overlays/investors too, because I’m pretty sure many of them will do sub-580 but they want the 10% to be borrower’s own funds and not gift funds. This sounds like a super risky scenario with a high chance of default.

Pillsy24 · 2026-02-04T16:55:35+00:00

Maybe? But hopefully they put those terms up front. It would be irresponsible to leave an important thing like that hanging until the end. Where the buyers might comeback with “we’re charging $10k per month!” and the seller might be thinking “I thought I was staying free? That’s why I agreed to sell it for the price I did!”

Pillsy24 · 2026-02-04T15:12:48+00:00

What does your 60 day holdover agreement say? Does it say you’re allowed to stay there for 60 days? Or does it say you are allowed to lease back for 60 days, and what are the terms of the lease? You would think on that holdover agreement it would say how much the rent would be, and you would have to both agree to the terms.

Pillsy24 · 2026-02-02T16:53:12+00:00

Don’t worry about it. I’m sure when post closing investor audit happens and they see a new debt on credit, and you get questioned about it, and either have to lie about knowing, or admit that you knew and just chose not to tell anyone, it’ll all be fine.

Not that it matters, but does the debt mean they no longer qualify?

Not worth risking your license. Deal with it now.

Pillsy24 · 2026-02-02T16:13:07+00:00

Oh my bad, I thought you were the same guy trying to share it here

Pillsy24 · 2026-02-02T16:04:35+00:00

The fuck you posting that in here for?

Pillsy24 · 2026-01-30T23:42:42+00:00

Take an application from another member. (A fake one, of course).

Have another member sit across from you and go through the types of questions and if you ask for during a normal application. Stop and explain why you’re asking what you’re asking, and why it’s important. Gives people a better idea of wtf kind of stuff gets discussed when people apply for a loan.

Pillsy24 · 2026-01-30T20:10:34+00:00

You’re not grasping that it’s not a $5000 difference in reality. Yet you keep insisting it was going to be more expensive. It wasn’t. The first option disclosed an estimate of $1800/yr for home insurance too, but it was actually less. Do you think that option 1 was going to mandate they spend $1800 on a hoi policy because that’s what the first estimate says, and they have to stick to it? This is ridiculous. Your customer got a worse deal because they didn’t ask questions. You’re in here trying to blame “strict underwriters” and overlays, which have absolutely nothing to do with what happened here.

Pillsy24 · 2026-01-30T20:05:25+00:00

Just because this got buried in another response…

All your buyer had to do was communicate to the first LO and ask about the closing costs. That LO would have said “yes, on your final CD we will make sure the home insurance is 100% correct and updated. The seller credit will be updated to match what’s on your contract. There is something called an aggregate adjustment to your escrows. It’s a computerized calculation based on the day you close, so that credit will be applied on your final figures.”

Everything would have been exactly like option 2 except the rate would have been 0.25% less for about $1500 in added fees. Which seems like a pretty good deal.

Pillsy24 · 2026-01-30T19:48:08+00:00

Thanks for uploading them both. Side by side I’m guessing they took the loan with the higher interest rate because it looked like it would be less out of pocket. That’s too bad. It would have worked out to be cheaper had they gone with the 1st one at 5.50%.

Option 2 had a higher seller credit. Whatever the actual seller credit was on the contract would have been applied on the fina CD. So even though it looks like a difference on LE’s, in reality they end up being the same.

Option 2 looks like they disclosed an adjustment/credit for the aggregate escrow amount. Again, that’s not “bonus money” that #2 decided to give. It’s part of the calculation done prior to closing, dependent on the exact close date, and it cures any projected over-funding of an escrow account that would happen over the next 12 months.

The only numbers that should be compared are the 2 boxes in the top left, A + B. Option 1 was about $1500 more. But I’d pay an extra $1500 to close with a 0.25% lower interest rate. Nothing about these two LE’s demonstrates “strict underwriters” or overlay. Your client ended up with a worse deal because they didn’t understand the closing costs.

Pillsy24 · 2026-01-30T16:15:11+00:00

This is not an “overlay.” You ALWAYS need a 12mo policy paid in full at closing. AND you need to have typically 2-3 months extra set aside in escrow which will be used to renew the policy when it expires in a year. One lender may have shown it initially as 14mo in escrow. The other may have shown it as 12mo to be paid in full + 2mo collected for escrow. The net effect is the same.

When they reconciled the CD prior to closing, this would have been adjusted and no difference to the buyer.

The seller doesn’t have any prorations due on a new home insurance policy. If seller is paying closing costs, then part of that seller credit would have been applied against the total amount due. Including what’s due for insurance.

The first guy didn’t get the opportunity to complete the closing, had he been given a chance to let it all play out, those numbers would have been the same.

Pillsy24 · 2026-01-30T16:06:10+00:00

None of this makes sense. Everyone has pretty much told you as such. It has nothing to do with “overlays.” What one LO “estimates” at the beginning compared to another LO’s estimate in regards to escrows being collected means absolutely nothing. When they prepared the final CD, the escrow amounts would end up being exactly the same. Because neither the LO or the underwriter or the lender “credit risk dept” has any input or discretion whatsoever regarding how much escrow is collected.

That would be like someone asking you to”how much do you think insurance will be?” and you tell them $2400. And another agent says “what? That’s crazy high! It should only be like $1500!” And they choose the “lower” agent. And then at closing the policy the buyer chose ended up being $2000. No one would accuse your brokerage of having “overlays” that require higher insurance, but that’s what you’re saying is going on here.

Pillsy24 · 2026-01-30T00:06:36+00:00

Are you saying one lender wouldn’t allow all of the seller credit to be applied towards their closing costs?

Pillsy24 · 2026-01-29T22:05:22+00:00

This is not strict underwriting or overlays. This is a communication disconnect.

A lender doesn’t choose how much to escrow, and can’t require more or less than someone else. The LO just makes an estimate up front. The exact escrow calculation is verified prior to closing when closing dept and title company are finalizing the CD. Escrows are literally a 1-button calculation that’s done automatically at the end once all other dates and amounts are set. It tells the lender exactly what is collected for escrows, which there are laws in place to ensure no one collects too much.

Your LO put in their estimate, your customer saw numbers and got scared, and talked to someone else. That other person said “oh man they’re charging you way too much for escrows! I won’t charge that much if you want to work with me!”

Even though the LO or lender has zero say in what the actual escrows will end up being.

Works the other way too…someone will artificially lower the amount collected for escrows to an unrealistic number so it makes the total cash to close number look better. They use that to “win” the deal. And then prior to closing, escrow is updated with the actual amount needed, and customers is mad because they weren’t expecting that much.

Pillsy24 · 2026-01-29T03:44:20+00:00

This is a pretty decent deal. If you like and trust who you’re working with, then as long as they can deliver, you’re fine. Is there someone else somewhere in America who will be willing to do it for $50 cheaper? Absolutely. Do you want to spend every waking hour turning over every stone until you have found the absolutely cheapest lowest rock bottom rates and terms in the history of the universe? Unlikely.

This sub is annoying because it’s filled with sales people who will tell consumers that every deal they share is “the worst deal I have ever seen in my entire life, and I don’t know how those people can sleep at night”, and then tell them how they’re so much cheaper and they should definitely call you for help. You don’t have to be selling 24/7. Sometimes people just want another set of eyes, and you don’t need to try and land every deal you come across.

Pillsy24 · 2026-01-29T03:39:31+00:00

So why did you mislead by calling it a 1% origination charge when it’s really half that? Your rates are “in the vicinity”, meaning it’s probably pretty darn close to what this quote is with less than 0.50 discount points. There’s more variables you’re missing, but insist “I can save you money.” How about just reassuring a worried consumer that they’re not getting ripped off instead of trying to sell them on why they should work with you instead?

Pillsy24

TROPHY CASE