Jaccused

Jaccuses Neither loan scenario above fits the scenario that you originally posted, which was the difference in rate between an 80% ltv and a 100% ltv. fla-tan I was unclear, I was giving the 2 loan scenarios (700k vs 750k on a 880k house) and was wondering the rate spread between the two. And if the rate spread was the same, what is PMI for the 750k scenario. TIA

Excellent credit, loan scenarios of 700k loan on a 880k house, and 750k on a 880k house in California. 30 yr fixed. The spreads about the same as quoted before? What is PMI on the under < 80% loan? TIA

I was looking at the interest rate spread between a 100% LTV loan and a 80% LTV loans over on a loan website, the spread seems to be about 2.5% all things being equal. I remember looking at this 6 months or so ago and the spread was maybe .5%. Are you brokers seeing this? Is the risk premium for > 80% LTV loans that much higher nowadays?

30 year fixed IO basically makes me responsible for paying down the principal through the life of the loan. And if I do pay down the principal my monthly REQUIRED payment will decrease. Correct? I have a steady paycheck but I also get huge lump sum bonuses throughout the year and I would like to have the month to month flexibility on payment that it provides, but at the same time a long term fixed rate. Any downsides im missing?

We would like to try and go through BuySideRealty.com to save on the realtor commission but they require pre-approval. Not a huge deal except we really arent planning to buy now (more because we want to save a full 20% down payment before we buy) but keep seeing houses pop up that we wouldnt mind trying for. Is it possible to get a pre-approval by us giving a broker our credit report and the pre-approval letter stating that pre-approval is contingent on verifying the credit pull? (or something like that) Thanks for your advice.

The wife and I were waiting until next year to buy but a good deal on a house appeared and so I started looking into possibly going sooner rather than later. In checking the online sites (e-loan "type" sites many of them) it seems like we are the very cusp of the really good deal loans. House is 615k, we have 10% down at the moment (not including our reserves), yearly income 165k last year (145k a year before, it will be more than that this year, we have zero debt). Credit scores, me 740+, wife 710+, she has a small unpaid collections (not hers, mistaken identity case we have been fighting) and I have some late pays in my past (2000). Is it realistic to expect a "good" loan with that criteria, I define a "good" loan as a 30 year fixed with a low interest rate and comparitevly low closing costs. It appears the Loan to Value ratio isnt quite up to snuff to get the "good" deals done.

has always been the case the lenders and mortgage products offered with lax underwriting guidelines to increase volume of business cost more after all they have stakeholders to report to and the only way anyone assumes more risk is to charge more to make sure there is some type of return on investment Yeah, I worded that horribly, what I meant to say.. for the same amount of risk on the "riskier" loans do you see a higher rates charged than before (above and beyond accounting for the interest rate increases that have been going on lately). You already answered im just restating in case others want to chime in.

In my empirical review of various online loan sites I've noticed a decided tightening of loan values offered from early January to present day, this comes in the form of higher LTV ratios and/or lower upper limit of loans offered based on incomce (just reviewing the various pre-qual forms). Are you seeing the same thing? Or maybe a better question would be are newer loans more likely to charge higher rates for riskier loans (or maybe not even approve the loans at all)?

WhyChat speaks truth, My wife is in this exact situation, perfect credit poisoned by a CA for an account that isnt hers (we can see the soft pulls from the CA on a report as well). It will take months to clear up, opt out, and pull your CR early before major purchases to avoid any nasty surprises.

I am by no means an expert since I dont have either, but the standard "book" answer is that Mortgage Insurance is expensive for what you get, and you are better off increasing (or obtaining) your life insurance policy by the amount necessary to cover your mortgage.

Hows this for a second DV to the CA, i like simplicity: Dear Scum, Acct:1234 You have recently verified this debt with credit reporting agencies while this account was under dispute and without supplying validation to me. This debt is not mine, please either validate the debt or delete the information on my credit report immediately. Sincery, J'accuseds wife

I see, we never received a dunning letter from them (although we received a letter shortly after our initial online dispute and they received our DV the day they sent that letter) , as they have the wrong person (same name, not my wife though) for this debt. We found out about it by pulling a credit report on my wife. Would all that you say still stand under those facts?

Wow, I must have been reading things wrong for a loooong time, CA's dont have a time limit for validation?

Well the CA is still under their 30+5 day time limit, I should wait to DV them when that time limit is reached, correct? Also, is them verifying with the CRA without validation to us a violation?

Initial thread here for this "mistaken identity" case: http://creditboards.com/forums/index.php?s...opic=157940&hl= Last night we received a report from TU saying everything has been verified even though we have received nothing back from the CA (violation?) , we are attempting to get a big of paper trail as possible, would the next step be a procedural request on the CRA?