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Looking to help a friend refinance a high balance mortgage at $550K 80% LTV in a county that goes up to $625K. Time horizon is about ten years before property is sold. May need non-occupying owner to sign the note also to get DTI ratios acceptable. Current note is presently in the non-occupying owner's name (brother of home occupant). I'm looking at PenFed and NFCU so far. PenFed offers a 5/5 at 2.875% and no origination fees with a 2% cap on adjustment and 43% DTI only needing a 680+ FICO score, however, all borrowers must reside in the house. I don't know as much about the NFCU rates, so far it appears they offer a 5/5 at 2.5% and 0.25% origination fee but the rate varies with your FICO score, still getting more info on this one. Other Credit Unions to consider? What about USAA, how good are their mortgage rates?

http://blogs.wsj.com/totalreturn/2014/08/12/mortgage-ads-lead-to-21-million-settlement-with-regulator/

First post here--find this site pretty interesting....just seeing if anybody will have a general answer. Both making about 40k a year, she's a teacher, credit score 748, I'm in the 650's, probably will have around 35-40k to put down. No car loans, both paid off--taxes around 4800 a year, insurance around 850 a year...she has a $300 a month student loan payment, low cc debt, and I have only 1 card, that's paid off monthly. Other housing expenses about 5-600 a month. My guesses around 225-240? am I way off? thanks,

My question is simple and complicated at the same time, will 1 year 3 months commissioned w2 pass muster for underwriting? I have worked for the same company for over 8 years, but in different capacitys. 2 years as a1099 tech, 3 years commission w2, 2 more years 1099 tech, then 2 years full time student (with full documentation) then since november of 2012 as manager w2 commissioned, all with the same company. (Upon comming back from school, i recieved seniority, and a promotion) I have always been a team player for my company, and loyal, willing to fill gaps as needed. It seems my willingness to fill those gaps is hurting me in my quest for a mortgage. After speaking with 2 different banks, and 3 brokers, i am told i must have 2 consecutive w2s if they are commissioned. Reguardless of my work history with the same company. I got off the phone with a 3rd mortgage company last night, and they said this should be no problem, the lenght of time with the same employer would compensate. Is this possible? This rollercoaster of no, no ,no yes is mindnumbing. I was also told i need to have a contract in place before applying, which we have found a home we want, but do not want to be a guniea pig for a over zelous LO. 48k income, 661 pulled score (from a bank), very low dti, looking for 116k w/ 5k down, FHA. no debt other than a car loan.

Hello, I'm new to the site... I've picked up a lot of credit savvy reading these forums and using the creditpulls database. So I'll ask this, I get these postcards regarding refinancing my mortgage from EDITED TO REMOVE SOLICITATION which I guess are from Freedom Mortgage. This is the third one I've received this year and I see they are a real company but have mixed reviews and that is a stretch to say that. Anyone else get this "offer" and have current/past mortgages with them? I lost all of the equity in my house like most people and now underwater and seems like a rare option to refinance under current rates. But I know that all that glitters ain't gold either. Thanks.

Is it just me? I swear the more I look into my reports the more I find wrong! I just looked in to my TU file once again. My mortgage company reported me 30 days late for August on 8/12! How do you report something 30 days late on the 12th day? Not only was I NOT late, but we have a 15 day grace period to start with! I called and got somebody in another country who obviously didn't understand why I was calling. He kept saying something along the lines that "they" meaning "him" could fix it right over the phone. uh...no. I don't know where to even begin with this since every time I call, I get someone in another country. Send a letter to their address? Anyone have anything similar happen to them? Thanks for listening CB. I needed to vent! No matter how hard you work to keep your side of the street clean, it's soooooo easy for someone to come along and simply crap all over it!

Hello Credit Boards, I recently came across a house that sparked my interest in buying a home about 6 months earlier them I intended. It is a foreclosure up for auction at a ridiculous price. So I went to Chase bank to sit with a pre-qualifier. They pulled my credit report and the score I saw on Free Credit Score .com was very different. While my Kroll report numbers were different and my consumer online KROLL : Trans: 637 Equifax: 602 and Experian: 551 FCR : Trans: 595 Equifax: 629 and Experian: 629 All this with 91% credit used and only one collection or less then $500 which can be paid off in 30 days. So my Journey begins. I paid off my Credit Card within 95% of the balance. it is 6/13 and my balance is reported to the credit bureaus between 6/15 - 6/20. Consumer reports say that will boost my score 20- 30 points. This may help the middle range to get up to 640 or higher which is the standard for FHA, Chase and other Loan companies. Being that there is that 30 day window where you can go to as many mortgage brokers as you can without it looking so bad on your FICO score. Given my situation: 1- Should I go shopping like crazy for a Mortgage being I have had one pull done already? 2- Being that the numbers are so different will the Kroll numbers be different within 30 days? meaning do they change rapidly? 3- Is there a change with this timeing game and numbers game to get pre-qualified in time for the auction 6/30? (I don't know how auctions work) 4- would it be best to go back to my 6 month plan and look at the end of the year? but then all my mortgage inquiries will show on my report...? SMH 5 - DO I shop like crazy for a house and mortgage since i know it is not that bad and I just have to find the right program/broker to work with. Help me I know a lot but I am having trouble putting the pieces together. D~