Jump to content

GLW

Members
  • Content Count

    12
  • Joined

  • Last visited

Recent Profile Visitors

212 profile views
  1. Centex - thank you very much. Totally agree ... this is a marathon.
  2. Thank you CB; your advice is pointed and fair. Folks might now like it but it's always reliable. I'm posting this in hopes that someone might find my story useful. Backtrack to late 2016 ... my credit score was in the low 400s ... I was renting a home that I barely qualified for and had my wife and two kids living well below what I wanted for them. I spent hours on CB and the light bulb clicked. I kicked myself in the a$$ and put together a long-term plan. The saddest part is that mine wasn't a money problem. It was a discipline and lack of planning problem. Within 9 m
  3. UPDATE: Thanks very much for the advice all around. I closed on 8/28 ... 3.9% rate ... Eagle Home Mortgage was a nightmare to work with.
  4. Thanks LoanX … Eagle Home Mortgage is the lender that the builder prefers. My LO is not very responsive.
  5. Hi - 1) The builder is offering $15K in "Seller Credits" 2) Yes; I can come up with the additional 1.5% 3) No sure of the exact # but the ratio is excellent per my last discussion with my LO. Thanks
  6. Hi Folks - I'm scheduled to close on a new construction home 8/30. The kids start school here in MD on 9/3. They enroll in new schools and I want to get them settled as much as possible. That background might come in handy for the scenario that I'm seeking advice on. Here's the scenario: purchase price is $439,540. I'm currently doing an FHA loan with 3.5% down. My mortgage credit score is 726. The loan estimate has me paying $300 month in PMI. The issue is that in October I get my yearly sales bonus; at that time I can put down the ~$90K needed to cover the 20% down payment to rem
  7. Thank you very much; excellent advice. I chopped it down and focused on the savings aspect Hit Man … there really is meat to that story. Here is the updated LOE: RE: “Provide explanation for all derogatory accounts on your credit report (BK 7, BK 13 and Foreclosure) and how borrower will prevent those occurrences from happening in the future.” To Whom It May Concern: This is to explain the Chapter 7 bankruptcy (discharged 2010), Chapter 13 bankruptcy (dismissed 2012), and foreclosure (2012). I owned a primary residence and purchased
  8. Do you have experience with Lennar's in-house lender - Eagle Home Mortgage? Working with them now and reaching out for experience or advice that other have? Thanks
  9. Underwriting advice needed -- Contract signed but house will not be built until August. Signed a purchase contract for new Lennar Home; went with their mortgage company Eagle Home Mortgage. I received a conditional approval through "Pre-Underwriting." The document person (forget the formal name) came back to me with a list of other docs they need to run back through underwriting. The issue that I have is that the house isnt scheduled to be finished until August 2019. All the information I've provided and will provide expires in April ... and then again in July.
  10. Advice Needed - is this LOE too much; should I skinny it down? I've plowed through several thoughts on the topic of LOEs and finally came up with the one attached below. Please let me know if this is too long/lengthy. This all took place back during the recession and during a crazy health scare. Your advice/feedback is greatly appreciated. RE: “Provide explanation for all derogatory accounts on your credit report (BK 7, BK 13 and Foreclosure) and how borrower will prevent those occurrences from happening in the future.” T
×
×
  • Create New...

Important Information

Guidelines