Mortgage question - what are my realistic options
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Thread created 09-26-2012 by Pezzy
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To answer the question about having 20% down - no, I don't have that at this time (but I wouldn't try to get a mortgage unless I had 20% ready).
So, if I went after a mortgage on my own, what...
Mortgage question - what are my realistic options
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Thread created 09-26-2012 by Pezzy
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If you want to be safe, first try to stay for as long as you at your rent free place. Then try to save 40% of the total housing cost. Here are the reasons why.
20% for down payment but you...
Mortgage question - what are my realistic options
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Thread created 09-26-2012 by Pezzy
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While we are limited by automated underwriting guidelines at times, a knowledgable broker has many resources not found at any one bank.
For example, while Fannie Mae has a cap of 45% for debt to...
Mortgage question - what are my realistic options
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Thread created 09-26-2012 by Pezzy
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Yes they are, but mortgage broker works with wholesale line.
Mortgage question - what are my realistic options
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Thread created 09-26-2012 by Pezzy
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A mortgage broker is alot more flexible in what they will give and your credit history than a bank or someplace like a Prudential.
The bank will look at your debt to income ratio as a percentile...
Mortgage question - what are my realistic options
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Thread created 09-26-2012 by Pezzy
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http://articles.chicagotribune.com/2012-09-25/business/ct-biz-0925-home-price-index-20120925_1_buildings-prices-positive-momentum
Mortgage question - what are my realistic options
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Thread created 09-26-2012 by Pezzy
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How much does it normally cost for a broker?
Mortgage question - what are my realistic options
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Thread created 09-26-2012 by Pezzy
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be careful getting married to someone with bad debt..
Mortgage question - what are my realistic options
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Thread created 09-26-2012 by Pezzy
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LOL, chaozz, I was hesitant to post that advice, but, based on experience, I could not agree with you more!
Mortgage question - what are my realistic options
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Thread created 09-26-2012 by Pezzy
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If your spouse brings down your credit score too much would they be willing to let you get the mortgage on your own and if so do you have enough income on your own to cover the payments?
My...
Mortgage question - what are my realistic options
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Thread created 09-26-2012 by Pezzy
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How much down payments are you planning to put up? 20% of $250k is $50k. If your income alone is high enough, you can just leave your wife out of the loan because her bad credit score will drag...
Mortgage question - what are my realistic options
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Thread created 09-26-2012 by Pezzy
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Hello Smart People. I'm hoping you can offer me some advice and help me set some realistic goals. I expect to be in the market to buy a home in the next year or two, and with rates as low as they...
Mortgage question - what are my realistic options
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Thread created 09-26-2012 by Pezzy
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20% down and above 740 will get you 3.375 with no points at penfed.
Mortgage question - what are my realistic options
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Thread created 09-26-2012 by Pezzy
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I might be mistaken, but aren't the fees from a mortgage broker rolled up into the mortgage? So although there is no out-of-pocket costs up front, it does affect their rate, where a buyer who is...
Mortgage question - what are my realistic options
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Thread created 09-26-2012 by Pezzy
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I don't know, 70K a year for a couple? That is pathetically low! and you wanted a house much? $400K? I think you should use your saving and go back to school for a real education like cosmetology...
Mortgage question - what are my realistic options
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Thread created 09-26-2012 by Pezzy
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I guess you'll find out when you get there. If you dont' have the 20% now and are working to improve the lady's credit, then use the time to generate some cash and pay down her bad debt so you can...
Mortgage question - what are my realistic options
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Thread created 09-26-2012 by Pezzy
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Mortgage Brokers have wholesale conduits and deliver competitive rates/pricing with superior service.
The Broker Compensation received is paid by the lender and is reflected as an additional credit...
Mortgage question - what are my realistic options
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Thread created 09-26-2012 by Pezzy
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Renting for free = live with parents? No shame in it -- just wondering if you're a marketing major :)
Congrats on the marriage plans and trying to organize your life. If you don't mind me...
Mortgage question - what are my realistic options
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Thread created 09-26-2012 by Pezzy
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Can you put 20% down?
Mortgage question - what are my realistic options
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Thread created 09-26-2012 by Pezzy
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With my credit union, they don't have differing rates for lower scores. As long as you are approved, they give you whatever their current rate is. Then, even if you aren't approved with the loan...
Mortgage question - what are my realistic options
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Thread created 09-26-2012 by Pezzy
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Ya know, I'd typically agree, but in this case, it's over the most asinine reason - like a $100 doctor bill her insurance refused to cover (and so she refused to pay). When you're young and stupid,...
Mortgage question - what are my realistic options
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Thread created 09-26-2012 by Pezzy
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Rates are low...generally speaking in the 3's.
There are MANY variables that need to be considered.
- What size down payment (as Loan To Value and Credit Score affect pricing) are you...
