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Jstolpa3299

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  1. How would I know if I can refinance my USDA Guaranteed loan with this type of refi? Its seems pretty straight forward, I'd like to see if I could refi... Could I borrow more to refinish our basement? Or remodel kitchen?
  2. road2freedom I didnt know you took the plunge!!!!! Good for you! Well my loan officer (again he's awesome lol) just reassured me that a letter of explanation for the NSF should do the trick:) Everyone please pray and send good thoughts this way haha and road2freedom I am soo happy that you are almost at the end of your journey to buying a home too!!!!
  3. So we are in the process of purchasing a home with a USDA loan. I sent the earnest money check to the trustee and I was under the impression since the seller is covering closing costs, that that check would just be held and not actually cashed. We have been keeping all of our saved funds for the purchase in our savings account. I did transfer the amount of the earnest check into the checking account that goes with the check for the earnest money prior to sending the check out, in the event that the trustee just wanted to verify there were funds to cover the check. Well the check was cashed to my surprise, it did clear, however, I had just made a credit card payment that also cleared but caused the balance of the checking account to go negative! Again our 1st checking account (we have 3 total, 2 checking & 1 savings) had funds and our savings account had funds, they just didn't happen to be in the right account because I thought the earnest check wouldn't be cashed, that was my fault for thinking that! I immediately transfered funds to that account to bring it out of the negative and contacted the bank and they refunded the NSF fee because this account has not had an NSF. The statement for this account should be available the end of this week at the latest and I am FREAKING out that this and this alone will cause the loan to be denied. Our file is pretty strong per our loan officer ( who is AWESOME and is a member of credit boards lol), so what are the chances that this one NSF will cause our loan to be denied? We have absolutely no lates on our credit reports, our DTI is pretty solid at 23/36, my husbands middle score was 636 but we are seeing about having his credit reran because fingers crossed I got his middle up to at least 660. But in any event, our loan office said he has banks that work with USDA loans down to a score of 620. I need some reassurance people!!! Our appraisal should be done any day and once that is completed our file will be sent to the underwriter..... I am so nervous!
  4. @ Misty120, Thanks for all of the advice! The three realtors that I emailed, I found on the Wisconsin Realtors Association registry and I just randomly chose three names. We did choose a realtor today and we did exactly what you said, we went with our gut and I honestly feel like she is the best fit for us. Thanks for the advice:)
  5. Hi everyone! So my husband and I were pre approved and it is time to find a realtor to help us find our first home:) I emailed three different realtors yesterday and recieved a response last night from one of them and spoke to her on the phone, she seemed very nice and I liked that she got right back to me. Now this morning I received response from two more realtors that I have yet to actually speak to on the phone but, they too sounded knowlegable in their email responses to me. My question is..... How do I choose?!
  6. Thanks Brian! If you meet the income qualifications, is there any advantage of doing a USDA loan VS FHA?
  7. Thanks for the info! Do you know if the DTI is the same as FHA at 36%
  8. Hi Just wanted to see if anyone could give me some basic qualifications for the USDA Guaranteed Loan? Like for FHA you have to have score of 640 or higher, 3.5% down, 36% DTI etc. What would the qualifications be for the USDA guaranteed loan?
  9. Brian do you know of any lenders that wave closings costs for 1st time home buyers? I have a credit union here is Wisconsin, Landmark Credit Union that says they wave closing costs for 1st time home buyers! There is still a fee of $895 I believe but, I am just curious to know if this is something that the lenders that you work with also offer?
  10. How do I figure out how much closing costs & up front fee's that I'll have to come up with outside of the down payment?
  11. lets say a 30 or a 15
  12. With the FHA loan, how is the PMI calculated? Also, with an FHA loan, if you put 20% or more down will the PMI still be added to your mortgage regardless?

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