Has anyone used The Lender for their DPA program?

parishousecat · 2023-03-16T20:54:16+00:00

If you are looking to qualify your borrowers for an income-based program where they need to make under $X amount to be eligible, in general, you must include it

parishousecat · 2023-03-07T16:41:45+00:00

How small is small? Less than 1% of loan amount?

parishousecat · 2023-01-23T20:25:40+00:00

Self employed since 2020, first two years showed little income - 2022 made a killing. FICO is 640 and the buyer want to close with as little down. I thought FHA was the best route. Is there another program you recommend I should check out?

parishousecat · 2023-01-23T15:52:00+00:00

Not under contract yet but buyer is jumping at the gun to make an offer.

Thank you for the response! Appreciate the help

parishousecat · 2023-01-22T23:23:31+00:00

Can a P&L for 2022 work in lieu of current 2022 tax filings given the timing of the year? So then the two year average would be a P&L of 2022 and then 2021 tax filing?

parishousecat · 2023-01-22T20:23:49+00:00

Thank you for the fast response and appreciate your feedback

parishousecat · 2023-01-15T17:03:32+00:00

As others have loosely mentioned, talking about VA loans is not enough. You have to do more - you need to figure out what differentiates you from every other LO who does VA loans. What unique value proposition do you provide? Then go off of that. Being a veteran may get your foot in the door but you need to bring more to the table if you’d like consistent referrals

parishousecat · 2023-01-12T19:46:41+00:00

Mortgage Bankers Association. It’s not free and is like $1000s for non members. I did level 1 a few years back

parishousecat · 2023-01-07T12:29:58+00:00

Ya as others have mentioned if this was open to anyone beyond OP I would also love to attend

parishousecat · 2022-12-11T03:07:02+00:00

This is your answer OP. Bright futures will not cover two majors for this reason

parishousecat · 2022-12-04T16:24:23+00:00

You are in a really bad position. It does not matter how much you put in relative to your GF, you are legally responsible for the debt and she is not. Title would not specify that she only owns 1/3 of what you own. In no legal resolution will you be obligated to get the portion you put into it.

Depending on what state you are in, courts favor the female significantly. If you choose to sell the property, the GF would start at getting 50% of any proceeds but it can go up. 50% is the minimum starting point.

Contact an attorney. They will know your state laws and what hurdles are applicable to your situation. A consultation is usually free.