[quote=jeff303]That’s interesting. My question to HLS was admittedly a naive one, but it seemed to touch a nerve. Anyway, what I’m really trying to figure out is, how can a borrower determine which scenario is better for them? Is it possible to work with someone (buyers agent, bank, other lender, whoever) who can “run the numbers” on both scenarios relatively easily? Or does one have to apply for two different loans in order to see the difference?[/quote]
Talk to a loan officer. They’ve dealt with underwriters enough that they’ll be able to tell you which scenario is most likely to result in approval. They’ll also be able to tell you what parts of your documentation are solid and what could potentially cause problems.
Of course, nothing is guaranteed as the loan officer and the underwriter are intentionally partitioned off from each other – for good reason.
The only way to know for sure is to submit something and see what comes back.
