Problems With My Loan Broker

[(former)FormerSanDiegan]

What are incentive monies ?
Is this money from the builder ? Sorry, I’ve only bought 4 houses in my life and the newest one I ever bought was 33 years old, so I don;t know much about buying newly built homes.

How much are you putting down ?
Sometimes loan program have limits to the amount of funds that can be paid by the seller for closing costs. In the old days (mid-1990s) this was typically limited to 3% and could only be applied to closing costs.

[KPP]

The builder is giving buyers incentives tied with a purchase of a home. In my case, the builder is giving me $20,000 to use toward closing costs, upgrades, HOA fees, property taxes, interest rate buy down…etc.

I wanted to use the money towards closing costs, 2 years HOAs, and 2 years property taxes. The loan broker wanted to use the incentives toward an interest rate buy down. $3,900 to get .5% lower. I didn’t want that, so that’s how the realtor got into an argument with the lender.

I know I’ll get ass raped by some of you guys on here, but I’m putting 34% down.

I guess my question should be, would I be able to continue the loan directly with citibank, even though my loan broker has cancelled it?

[KPP]

The builder is giving buyers incentives tied with a purchase of a home. In my case, the builder is giving me $20,000 to use toward closing costs, upgrades, HOA fees, property taxes, interest rate buy down…etc.

I wanted to use the money towards closing costs, 2 years HOAs, and 2 years property taxes. The loan broker wanted to use the incentives toward an interest rate buy down. $3,900 to get .5% lower. I didn’t want that, so that’s how the realtor got into an argument with the lender.

I know I’ll get ass raped by some of you guys on here, but I’m putting 34% down.

I guess my question should be, would I be able to continue the loan directly with citibank, even though my loan broker has cancelled it?

[KPP]

The builder is giving buyers incentives tied with a purchase of a home. In my case, the builder is giving me $20,000 to use toward closing costs, upgrades, HOA fees, property taxes, interest rate buy down…etc.

I wanted to use the money towards closing costs, 2 years HOAs, and 2 years property taxes. The loan broker wanted to use the incentives toward an interest rate buy down. $3,900 to get .5% lower. I didn’t want that, so that’s how the realtor got into an argument with the lender.

I know I’ll get ass raped by some of you guys on here, but I’m putting 34% down.

I guess my question should be, would I be able to continue the loan directly with citibank, even though my loan broker has cancelled it?

[KPP]

The builder is giving buyers incentives tied with a purchase of a home. In my case, the builder is giving me $20,000 to use toward closing costs, upgrades, HOA fees, property taxes, interest rate buy down…etc.

I wanted to use the money towards closing costs, 2 years HOAs, and 2 years property taxes. The loan broker wanted to use the incentives toward an interest rate buy down. $3,900 to get .5% lower. I didn’t want that, so that’s how the realtor got into an argument with the lender.

I know I’ll get ass raped by some of you guys on here, but I’m putting 34% down.

I guess my question should be, would I be able to continue the loan directly with citibank, even though my loan broker has cancelled it?

[KPP]

The builder is giving buyers incentives tied with a purchase of a home. In my case, the builder is giving me $20,000 to use toward closing costs, upgrades, HOA fees, property taxes, interest rate buy down…etc.

I wanted to use the money towards closing costs, 2 years HOAs, and 2 years property taxes. The loan broker wanted to use the incentives toward an interest rate buy down. $3,900 to get .5% lower. I didn’t want that, so that’s how the realtor got into an argument with the lender.

I know I’ll get ass raped by some of you guys on here, but I’m putting 34% down.

I guess my question should be, would I be able to continue the loan directly with citibank, even though my loan broker has cancelled it?

[peterb]

Run from this person. You are the customer. This is also a crappy tactic to get you to stick with her since you are so near to closing.

[peterb]

Run from this person. You are the customer. This is also a crappy tactic to get you to stick with her since you are so near to closing.

[peterb]

Run from this person. You are the customer. This is also a crappy tactic to get you to stick with her since you are so near to closing.

[peterb]

Run from this person. You are the customer. This is also a crappy tactic to get you to stick with her since you are so near to closing.

[peterb]

Run from this person. You are the customer. This is also a crappy tactic to get you to stick with her since you are so near to closing.

[Raybyrnes]

KPP

Why not take the high ground on this and simply c all the broker back. I highly doubt they canceled the loan. Suggest that you are detailed oriented and are having a hard time understanding this process. Ask if it might be in both of your best interests to have another broker in the office handle the loan if she feels there is a conflict of personality.

With respect to her fees you should have been able to get a Good Faith Estimate at this point. Just ask for it.

Asking for the brokers contact is suggestive that you are trying to cut them out of the loop. Whether you are trying to do this or not doesn’t really matter. I am certain taht ther are more than a few unscrupulous Buyer that will try and have the broker do all the leg work and then try an end run to get around the broker fee. Might piss you off too if you thought someone was trying to do this to you.

So the bottom line is e big and mature, and speak to the broker.

[Raybyrnes]

KPP

Why not take the high ground on this and simply c all the broker back. I highly doubt they canceled the loan. Suggest that you are detailed oriented and are having a hard time understanding this process. Ask if it might be in both of your best interests to have another broker in the office handle the loan if she feels there is a conflict of personality.

With respect to her fees you should have been able to get a Good Faith Estimate at this point. Just ask for it.

Asking for the brokers contact is suggestive that you are trying to cut them out of the loop. Whether you are trying to do this or not doesn’t really matter. I am certain taht ther are more than a few unscrupulous Buyer that will try and have the broker do all the leg work and then try an end run to get around the broker fee. Might piss you off too if you thought someone was trying to do this to you.

So the bottom line is e big and mature, and speak to the broker.

[Raybyrnes]

KPP

Why not take the high ground on this and simply c all the broker back. I highly doubt they canceled the loan. Suggest that you are detailed oriented and are having a hard time understanding this process. Ask if it might be in both of your best interests to have another broker in the office handle the loan if she feels there is a conflict of personality.

With respect to her fees you should have been able to get a Good Faith Estimate at this point. Just ask for it.

Asking for the brokers contact is suggestive that you are trying to cut them out of the loop. Whether you are trying to do this or not doesn’t really matter. I am certain taht ther are more than a few unscrupulous Buyer that will try and have the broker do all the leg work and then try an end run to get around the broker fee. Might piss you off too if you thought someone was trying to do this to you.

So the bottom line is e big and mature, and speak to the broker.

[Raybyrnes]

KPP

Why not take the high ground on this and simply c all the broker back. I highly doubt they canceled the loan. Suggest that you are detailed oriented and are having a hard time understanding this process. Ask if it might be in both of your best interests to have another broker in the office handle the loan if she feels there is a conflict of personality.

With respect to her fees you should have been able to get a Good Faith Estimate at this point. Just ask for it.

Asking for the brokers contact is suggestive that you are trying to cut them out of the loop. Whether you are trying to do this or not doesn’t really matter. I am certain taht ther are more than a few unscrupulous Buyer that will try and have the broker do all the leg work and then try an end run to get around the broker fee. Might piss you off too if you thought someone was trying to do this to you.

So the bottom line is e big and mature, and speak to the broker.

[Author]

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