You need to understand what loan approvals are based on and realize that nobody is a gift to a lender even though you think there is no risk to them.(There is)
Having a high credit score, large down payment and/or huge income doesn’t get you a loan….
Qualifying by the guidelines is what gets you a loan.
If your “whatever that thing is” is too high, you aren’t going to get a loan. Period.
THE SYSTEM IS BROKEN. Someone with 5% down can get a loan if their ratios are OK, but you may not be able to get one with 70% down if your ratios aren’t OK.
THATS the system.
Designed and approved by genius idiots in govt that claim that they want to fix the housing ‘mess’
Hard money lenders will give you a loan with 70% equity and not care about anything else, but you are probably looking at 10%-12% interest.
You have a slim chance of getting approved with a 60% ratio as most lenders will not accept this, but it may not be impossible.
Loan approvals are automated and the people you are talking to may all be using the same system.
