I am looking to buy an investment flat in Chicago. At present most of my income is tied to my house today, and I would not be able to qualify 45% debt to income without using the projected income for the apartment. I have now reached about 6 different banks, but they all require two [...]
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Our lender is requiring us to explain 2 instances related to my husband’s credit card where he was late making the payment. One was January of this year and the other is in 2009. What type of reasons do the lenders find acceptable in this instance other than sheer forgetfulness on my husband’s part? by [...]
My wife and I are in the market for a new home. We have done some research online, and have trouble finding a broker with experience in our situation. We are looking for a loan that best suits our needs as a family. Working full time and my wife is housewife. We have no student [...]
I’m a first time homebuyer and thought I was very close to receiving ATC from my lender for an FHA loan, but they have raised a few issues at the last minute that are now holding up the process. I wanted to outline a timeline of the relevant events and see if this was normal. [...]
We’ve recently bought a short sale planning to remodel & expand before we move in (we are still renting). Our spiral of planning project –> estimating cost –> seeking funding –> repeat is about to begin. Question: Who offers appropriate loans? The big banks (Wells Fargo, BoA, Chase…?) Others? Some quick facts: [...]
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I’m looking for a lender who can do a 203k streamline refinance of my FHA loan with an additional amount for the Energy Efficient Mortgage (EEM) program for property in the State of Maryland. Some particulars: – My 30 year FHA mortgage is 3 years old and at 6% – we definately need to [...]
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Hi all, I was wondering if anyone would be able to tell me all I wanted to put in a triple which is occupied by the owner lives in one unit. There are currently tenants in one unit, I live in another, and the third device appears to have been uninhabited for several years. I’ve [...]
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I need a lender that will do a 55% DTI on an investment condo in IL, or allow use of active leases on owner occupied 3-Unit home. Unfortunately all the lenders I’ve contacted won’t allow me to use the current leases on my owner occupied 3 flat since I haven’t had 2yrs rental experience. [...]
Continue reading about Looking for a lender that will do 55% DTI on an investment condo
We’ve been pre-approved for a jumbo. Our offer has been accepted, and the contract is signed. We’re not closing for a while. We are working closely with a loan officer at a portfolio lender (a local bank with local underwriters) who is doing an extraordinary job with our application, and is working closely with our [...]