prakas

I'm 25 years old and bought a house a year ago. I make ends meet but it's tight. I am starting a second job for 1-2 days a week. HOWEVER, I'm also a part-time student with about 10 classes left majoring in finance. I used grants in community college, but since i hit the 4 year university, i'm paying for everything with loans and not elgible for pell grants. It doesn't feel like the degree is worth it by racking up all this debt and not seeing how I'm going to benefit from the degree. I have about 4500 in credit card debt 105k on my house - 30 yrs 3.75% 16k in federal student loans I'm taking the max on my student loans next year, any extra will go towards my credit cards (interest rate is a lot lower on student loan) as well as my 2nd job. I want to also make sure the principle on my house is less than 80% in 4 years so i can get MIP removed (110/month). Am I on the right track or should I focus on something else? Any advice or feedback would be appreciated.

Thank you , looking forward to closing on Friday!!!

Whew...Weeks of underwriting and finally got a clear to close... Hard work pays off

Well this is one pain in the rear to be frank. I'm really keeping in contact with my loan officer and processor to try and reach a decision. I've managed to get HR to add extra documentation of the 10% shift differential. I've been keeping in touch with my loan processor and to my understanding it will be considered as a compensating factor in underwriting, as well as my monthly bonuses. I've provided a ton of documentation this week and just have a couple more conference calls to complete with the credit agency and lender for my deferred student loans. It seems like my fate is in the underwriter's hands at this point...

I'm purchasing a town home and my file has been "suspended" in underwriting. Why? My current employer filled out the Fannie Mae verification of employment with just my "base income". I am guaranteed 10% (shift differential) extra per hour, and monthly performance bonuses. However, neither was reflected on the VOE. I spoke to HR, asked them to at least include the shift differential and had my l.o. fax a new one. HR filled it out a second time, with no changes. So I'm being told my ratios are too high. I been at my job for 7 months (stable employment history prior but at a lower pay), so I can understand not including bonuses at income. However, why isn't my shift differential being included? It's guaranteed at 40hrs a week because I work the night shift.....Any thoughts or suggestions?

It's been a few months of searching but I found a brand new town house in a golf development with in-house lending. I'm currently in underwriting. only monthly debt I have now is my refinanced car at 134/month. With my estimate monthly mortgage being 912(escrow/hoa included) at 3.875%. My front ratio is sitting at about 43.5%, back ratio is about 50.5%. Should I be worrying that I'll get a no from fha?

You got a car you wanted financed, so congrats!!!! The interest rate might not be the best, but you can always try and refinance in a year or two. Enjoy the ride

I keep reading about USDA offering 100% financing. I've been to their site have done a lot of reading, and USDA seems like a great option. I'm about to pay my car off in about a month or so, my debt to income ratio will be 0 (student loan in deferment, expecting it to be 100/month once it's out). My income is 25200/yr base pay, not including overtime and bonuses. However I only been at this job for 6 months (stable job history for several years), and my TU fico is 704. How can I find out how much I can expect to be approved for? I've tried using online calculators but I get anything ranging from 50k to 130k which. Also...How do I go about applying for this program? Is it offered directly from the bank? Thanks *Taxes range from 500-1200 in the areas I'm looking at*

As I breeze through the real estate, I notice most stick built homes in the area I'm interested in and price range, seem to all be built in the early 1920-1940s, give or take a few years. They range mostly from 40,000-120k. Are they really any good compared to new modular homes that sell for around the same price, or even condos build in 80s/90s that seem much more durable.. I'd love to own a stick built home, however, it seems for about the same price, I can get a new modular or late 90s condo for about the same price. Generally speaking, if I buy an older stick built, should I expect a lot of problems and fixing up and remodeling?

the local cu has a 10k minimum... seems like no one wants to refi a good customer ;(

I've got an 09 suzuki sx4 with a payoff of about 6,800 currently financed with ally at 9.9 (car is worth about 10k). my credit score is ~680 fico... i'm looking to refinance, but some of the well known lenders, such as capital one, require 7,500 balance.. my pmt is 331/month, i'd like to refi it for ~48 months are get the pmt and interest down to help my debt to income ratio. any lender recommendations?

Income (pretax): 2097/mo Monthly Expenses: car loan: 331 (~9,500 payoff) Credit cards: 100 (~3800 total) Credit score: 675-685 I'm trying to buy a condo, and the cheapest ones are ranging from 80k-120k. Now I've been applying around for the past couple of weeks and it seems like they all want me to go through fha with 3.5% down, which is fine. However, I'm concerned about the DtI.... The calculators I've been using show that I'm only able to qualify for 30-40k. Are lenders willing and able to stretch it enough so I can purchase a condo? Any lender recommendations?

I know this is easier said than done, but he could go to college (should be eligible for grants/aid) and look for a higher paying position that meets his needs

AJ Have you tried Capital One? They seem much more forgiving, especially if you have a checking or credit card account with them. I have about the same income and credit score as you, and was approved for 12.5k earlier this month.

I paid off my walmart card in October and made a purchase after which I completely forgot about. I discarded Walmart bills until I got one today saying I was due for 3 payments. I just got off the phone with a rep, removed a l/c (never late before with them) and pd in full. I'm in the process of buying a house and have been conditional approval. What's the chance this will hit my credit report? I checked it earlier this month and didn't see any lates from walmart.