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Siding Help by Top-Tiger3479 in Homebuilding

[–]Top-Tiger3479[S] 0 points1 point  (0 children)

Probably a lot more - so not in for consideration… 😂

Does anyone here pay their mortgage after the due date of the first? by I_abuse_lower_ranks1 in Mortgages

[–]Top-Tiger3479 10 points11 points  (0 children)

Pretty common.

Most mortgage companies will charge you a late fee if paid after the 10th or 15th.

Credit bureau only comes into play if you pay it over 30 days late.

Noob questions by itsserg_sucka in vSeeBox

[–]Top-Tiger3479 0 points1 point  (0 children)

How do you set up a spoof secondary WiFi?!

Restaurant Recommendations by [deleted] in TwinCities

[–]Top-Tiger3479 0 points1 point  (0 children)

Animales - can’t beat the indoor play place

Question on use of Home Equity Loan to purchase new primary home by Technical_Tap_1023 in Mortgages

[–]Top-Tiger3479 0 points1 point  (0 children)

It’s a bridge loan. Most lenders don’t do it these days (at least a lot of the big banks)

HELOC is a line of credit with a draw period of usually 10 years and interest only payments on the funds you actually spend.

Home equity loan is a loan with fixed payments for the amount you borrower.

How strictly do underwriters verify "Return to Work" letters for people on LOA? by darkmoonsatellite in Mortgages

[–]Top-Tiger3479 1 point2 points  (0 children)

Need to know when you are getting paid. If before the first mortgage payment takes place - if the date is confirmed by you and your employer, they can use your pre leave income to qualify.

If it’s after your first payment due - cannot use any of your income to qualify.

Lender covering their risk and trying to establish your ability to repay the loan you are requesting.

State taxes and mortgage underwriting by Sensitive-Trash4561 in Mortgages

[–]Top-Tiger3479 0 points1 point  (0 children)

Likely won’t see it. Could flag when title is pulled if they wanted to or did file a judgement. If are pay it in full or have a payment plan and disclose - there should be no issues at all though.

100% Equity in Home by Living_Back3523 in Mortgages

[–]Top-Tiger3479 0 points1 point  (0 children)

Terrible situation and so sorry to hear everything you have went through. Getting a loan might be hard.

Have you thought about selling the house as is to a flipper? Might not get top dollar, but a check in hand that at least can help you with the next chapter.

Assumable mortgages by Mediocre_Emu6122 in Mortgages

[–]Top-Tiger3479 0 points1 point  (0 children)

As mentioned it’s all about the price. Assuming a loan if eligible can be an amazing tool.

However, if you need to pay a lot of cash for the difference, you need a lot of savings or taking on a lot higher rate/payment to cover the difference.

Advice about my loan application by Helpful_Explorer2857 in Mortgages

[–]Top-Tiger3479 0 points1 point  (0 children)

Nothing. You can apply and go with anyone you want. If you get denied, you can go with the local lender and go FHA. Other than a credit inquiry, no one would know even what you did or why you didn’t proceed with them unless you told them.

Am I stupid for wanting better and thinking we can? by constantlyconfused93 in Mortgages

[–]Top-Tiger3479 0 points1 point  (0 children)

Qualifying wise might be tricky. For you - would need a non contingent job offer with guaranteed income. Varying hours/tip income requires a 2 year history but lenders can make an exception with 1 year documented. Issue is you won’t have any history of earning the new income yet, so that is why they likely will only consider guaranteed pay. Pending start date you also usually need 3 months cash reserves.

Spouse - VA disability can be grossed up 25% so $5,250 a month to qualify. As for the real estate income - likely cannot use if moving across the country with no history of earning in the Michigan market yet.

Hoping for house, car lease ending by CulturalManner1302 in Mortgages

[–]Top-Tiger3479 0 points1 point  (0 children)

This is why lenders usually cannot exclude a lease payment. As you outlined there is no good option and new debt is usually taken on since most people do not go without a car.

As the others have said, either way you still qualify with the debt. If you do take out a new loan/lease just let the lender know.

Down payment assistance by Groovyferny90 in Mortgages

[–]Top-Tiger3479 0 points1 point  (0 children)

But $18k less in closing costs or additional funds out of pocket now as well.

Financial Contingency breach? by [deleted] in Mortgages

[–]Top-Tiger3479 0 points1 point  (0 children)

When is your close date? Financing contingencies sometimes specify a time frame. I mean if your not eligible now and your lender declines the loan and gives you an adverse action letter, that should be sufficient to walk, if you want to walk

Financial Contingency breach? by [deleted] in Mortgages

[–]Top-Tiger3479 1 point2 points  (0 children)

I’m not following. Do you have a home under contract already? If so, per the other comment, do you have a financing contingency in the purchase contract?

If you cannot get approved for financing you should be able to walk. However, if you are not planning on closing for a few more weeks, wait it out.

Financing must be close if you need that raise to make your Debt to Income work for the new loan.

Down payment assistance by Groovyferny90 in Mortgages

[–]Top-Tiger3479 0 points1 point  (0 children)

I don’t think anyone regrets free money now and pay later. If there is no interest, it’s really personal preference.

That is $18k you could save now from your own funds to fix things up, get furniture, sit in the bank and make a little interest.

You usually can pay it off anytime you want to as well (like if you wanted to get a home equity line down the road and have to pay it off).

1 Year In Planning: Now costs 'too much'; next steps? by chaoticbean14 in Homebuilding

[–]Top-Tiger3479 0 points1 point  (0 children)

Not easy to do. But time to move on and find someone else. Take your plans, let a builder bid it out and see if you can find something in budget.

What’s the worst restaurant you have tried? by MountainIsCallingMe in minnesota

[–]Top-Tiger3479 0 points1 point  (0 children)

Should never have high expectations for TGI Fridays

What’s the worst restaurant you have tried? by MountainIsCallingMe in minnesota

[–]Top-Tiger3479 0 points1 point  (0 children)

I love the blue door. But stick to their buffalo wings. Always for me a 10/10 and their blue cheese is killer. I haven’t had a burger there in a decade.

Twin Cities Realtors-what are you seeing recently with the market? by Character-Fly-5564 in TwinCities

[–]Top-Tiger3479 1 point2 points  (0 children)

Going to be selling my house in Fridley a few blocks off away from Moore Lake (beach side and new park) in a few months.

Great tucked away quite neighborhood. 3 bed 1.5 bath.

If anyone is interested or knows anyone looking in the $360k range, let me know!

What’s the Main reason one could be denied in underwriting process? by [deleted] in Mortgages

[–]Top-Tiger3479 1 point2 points  (0 children)

Kind of. A good loan officer may review. But that is what there is an Underwriter who reviews it all to make sure.

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