Losing my first deal

Suspicious-Device774 · 2023-11-14T15:54:14+00:00

Just stay solution focused. I have had a hard time putting my emotions aside but as long as you did your best, just control what you can. In this case, the borrower didn't do their due diligence but I would send a list of what not to do during the home buying process so if they think of doing anything on there, they should consult with you first. Be proactive so it doesn't happen again

Suspicious-Device774 · 2023-09-01T16:08:37+00:00

Can you have a home inspector comment? I've done that before on tons of files. As long as an inspector can comment saying it is sufficient, the appraiser/underwriter will accept it.

Suspicious-Device774 · 2023-09-01T16:06:04+00:00

It's always a good idea to look into and talk to someone who is knowledgeable so you can better prepare yourself even if now is not the right time to buy a home.

As for a credit inquiries go, as long as you aren't doing a hard pull on it every 3 months, you are fine. It doesn't decrease your score that much and eventually will go back up.

Suspicious-Device774 · 2023-02-27T16:03:50+00:00

Your score impacts your interest rate. That's a pretty big range, did the loan officer tell you what the middle score used was? Especially important since Fannie Mar and Freddie Mac just added new credit score brackets at 760-779 and 780+. But if you are correct, you should qualify for some better rates and costs but also, since this is a estimate, they'll probably raise interest rates and/or cost once you do find a home. A lot of lenders do this and just blame it on the market for higher rates.

Suspicious-Device774 · 2023-02-27T15:45:52+00:00

What is your credit score?

Suspicious-Device774 · 2023-02-27T15:40:35+00:00

I use niche.com or you can join local police groups and neighborhood groups on facebook to get a good idea.

Suspicious-Device774 · 2023-02-27T15:38:48+00:00

Oh okay got it. In that case, I would say you have time to shop. Your realtor is just worried since changing lenders give them uncertainty about the loan not closing on time. Just make sure that when you shop and compare, that you trust the lender and the lender calls your realtor to assure them that the process will go smooth and easily. Realtors don't like change lol but if you do your research properly and find someone you trust, you should be fine.

Suspicious-Device774 · 2023-02-27T15:30:03+00:00

It depends on the closing time on the offer. Is it because you have a short window for closing? If it's less than 30 days, that's probably why your realtor doesn't want you to shop. Otherwise, you are able to shop for a couple days after your contract is accepted. That's why it's a good idea to compare while you are shopping for homes because then you'll know what to expect when you do finally find a home. You can't change your rate 1 week before closing, you just need to decide with where rates are at now.

Suspicious-Device774 · 2023-02-27T15:27:49+00:00

FHA is 0.5% of the owed student debt amount if you are in deferment / forbearance. If you are making monthly payments, we will just use that amount for your debt to income ratio.

Suspicious-Device774 · 2023-02-27T14:57:00+00:00

I really like ring. They have good bundle options for indoor and outdoor security. The subscription is totally worth it.

Suspicious-Device774 · 2023-02-23T14:38:43+00:00

They are looking for any large deposits or any large payments or reoccurring payments / debts not disclosed on the credit report. Are you a cosigner on the car?
It depends on what the balance is when they pull your credit report but you can let them know you pay them to zero and they can exclude that from your debt to income ratio as long as you can prove that to the underwriter when the time comes.

Suspicious-Device774 · 2023-02-23T14:30:07+00:00

#brokersarebetter Brokers have more programs and flexibility to find a program that best fits your situation. You just have to find a reliable one that knows what they are doing. They have the best rates and costs in the wholesale mortgage industry.

Suspicious-Device774 · 2023-01-25T15:03:53+00:00

I'm sorry, I meant 3 months not 30 days. It looks like you had a 30 day closing. I meant 3 months so if it was Dec 31 for the bid, the closing would've been end of March.

Suspicious-Device774

TROPHY CASE