Could not help but comment … I know this is an old threat with numerous points that have been put forth with strong conviction but a little knowledge can go a long way. ANYONE going thru the loan/mortgage process should review a few basics and also update the current trends – especailly with brokers… the gold standard web page to arm yourself with an excellent & indepth overview of the loan/mortgage business is Jack M. Guttentag’s site at http://www.mtgprofessor.com from the Wharton School of Business.
I have no connection with him or his site other than as a perspective buyer myself seeking as much info before hand and stumbled on to his site – highly recommend for anyone in the process of buying. Additionally, some of the best free-use mortgage & home finance calculators you can find anywhere are all on this site for no charge. There is a lot of info here with numerous submenus that will take a few evenings to filter thru – but once completed you will be much better prepared to face the challenge of a mortgage loan and home purchase.
Hope your situation is resolved with positive outcomes…
