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Everything posted by Jstolpa3299

  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
  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. 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?
  12. Does anyone know when I would be taxed if I take a distribution from my simple IRA? Do they tax it at the time of distribution or is it taxed when I do my taxes for the year? Thanks!
  13. Hi, question, a friend of mine received a settlement offer for an old cell phone bill. Is it better to just pay the account in full so it reflects PIF on the credit report or can she pay the settlement amount and have it show PIF for a lesser amount on her credit report. Which one would look better on her report?
  14. Thanks! @ Krish, did you have to pay a fee to the broker?
  15. I am wondering if there is an advantage to using a mortgage broker vs just going into a bank to try and get a mortgage? Also, who pays a mortgage broker?
  16. Either way it would be fine with me. If included we are right at 36%, without the car payment we would be at 33%-34%. Just curious I guess. What's the rule with deferred student loan payments and FHA?
  17. Alright Brian, my monthly payment amount is $224 for the car payment. So because it is over the $100 amount does that mean it would be included regardless if it was less than 10 months until being paid in full?
  18. Hi question..... If a car loan will be paid off in less than 12 months from the time you are applying for a mortgage, does it still get included in your DTI ratio? If is does, is there ever an instance when it would not be included? Thanks!
  19. Thanks! All good info and hopefully come June these won't be an issue:)
  20. Hi all! Ok my husband and I have paid off our credit cards, THANK THE LORD!!!! And now have all extra money going into savings for that down payment. We should be applying come June and we couldn't be more excited. However, my husband has 3 medical collections on his credit reports. One is $81, which we plan on paying & fingers crossed get them to agree to remove from his report entirely. Then he has a 2nd medical collection for $886 and a 3rd one for $1,306. My question is, how will this effect us getting a mortgage? Will they require these to be PIF before approving a loan?
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