Forum Replies Created
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AuthorPosts
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HLS
ParticipantI’ll send you an email,,, it may end up in your spam folder.
Happy to help you if I can, including an inspection contact.
If your agent isn’t helpful, I can guide you through much of the process as well.
ParticipantGreat question, it comes up often.
The biggest problem is documenting it..
If people pay by check, every month and it can be documented, I think it is possible with FHA as border income…but I think that it must be reported as income on tax returns.I HATE FHA LOANS and the fees and the guidelines, so I don’t keep up with them…
Lotsa people are getting screwed right now with FHA loans,, they could become the subprime mess of the future, leading to more foreclosures.
Lotsa mortgage ppl are pushing buyers into FHA loans,,without explaining better options to the buyers.. shame on them.
FNMA won’t accept it. .HLS
ParticipantGreat question, it comes up often.
The biggest problem is documenting it..
If people pay by check, every month and it can be documented, I think it is possible with FHA as border income…but I think that it must be reported as income on tax returns.I HATE FHA LOANS and the fees and the guidelines, so I don’t keep up with them…
Lotsa people are getting screwed right now with FHA loans,, they could become the subprime mess of the future, leading to more foreclosures.
Lotsa mortgage ppl are pushing buyers into FHA loans,,without explaining better options to the buyers.. shame on them.
FNMA won’t accept it. .HLS
ParticipantGreat question, it comes up often.
The biggest problem is documenting it..
If people pay by check, every month and it can be documented, I think it is possible with FHA as border income…but I think that it must be reported as income on tax returns.I HATE FHA LOANS and the fees and the guidelines, so I don’t keep up with them…
Lotsa people are getting screwed right now with FHA loans,, they could become the subprime mess of the future, leading to more foreclosures.
Lotsa mortgage ppl are pushing buyers into FHA loans,,without explaining better options to the buyers.. shame on them.
FNMA won’t accept it. .HLS
ParticipantGreat question, it comes up often.
The biggest problem is documenting it..
If people pay by check, every month and it can be documented, I think it is possible with FHA as border income…but I think that it must be reported as income on tax returns.I HATE FHA LOANS and the fees and the guidelines, so I don’t keep up with them…
Lotsa people are getting screwed right now with FHA loans,, they could become the subprime mess of the future, leading to more foreclosures.
Lotsa mortgage ppl are pushing buyers into FHA loans,,without explaining better options to the buyers.. shame on them.
FNMA won’t accept it. .HLS
ParticipantGreat question, it comes up often.
The biggest problem is documenting it..
If people pay by check, every month and it can be documented, I think it is possible with FHA as border income…but I think that it must be reported as income on tax returns.I HATE FHA LOANS and the fees and the guidelines, so I don’t keep up with them…
Lotsa people are getting screwed right now with FHA loans,, they could become the subprime mess of the future, leading to more foreclosures.
Lotsa mortgage ppl are pushing buyers into FHA loans,,without explaining better options to the buyers.. shame on them.
FNMA won’t accept it. .HLS
ParticipantScarlett,,
Rates move around all day long…Please understand there is no rate that fits all people. It depends on what you qualify for.
With 10% down, Depends on whether credit score is 720+ OR 719 or below.
Assuming that you qualify based on full doc income, Best wholesale rates at this moment are 4.875% but you will be paying a mortgage insurance premium in addition.
Without knowing a loan amount it’s impossible to know the extra payment.Rates can be different in a few minutes.
A lock guarantees your rate, but you still need to qualify.Loan limit in San Diego County is $546,250
If you want an update, you can contact me at [email protected]
ParticipantScarlett,,
Rates move around all day long…Please understand there is no rate that fits all people. It depends on what you qualify for.
With 10% down, Depends on whether credit score is 720+ OR 719 or below.
Assuming that you qualify based on full doc income, Best wholesale rates at this moment are 4.875% but you will be paying a mortgage insurance premium in addition.
Without knowing a loan amount it’s impossible to know the extra payment.Rates can be different in a few minutes.
A lock guarantees your rate, but you still need to qualify.Loan limit in San Diego County is $546,250
If you want an update, you can contact me at [email protected]
ParticipantScarlett,,
Rates move around all day long…Please understand there is no rate that fits all people. It depends on what you qualify for.
With 10% down, Depends on whether credit score is 720+ OR 719 or below.
Assuming that you qualify based on full doc income, Best wholesale rates at this moment are 4.875% but you will be paying a mortgage insurance premium in addition.
Without knowing a loan amount it’s impossible to know the extra payment.Rates can be different in a few minutes.
A lock guarantees your rate, but you still need to qualify.Loan limit in San Diego County is $546,250
If you want an update, you can contact me at [email protected]
ParticipantScarlett,,
Rates move around all day long…Please understand there is no rate that fits all people. It depends on what you qualify for.
With 10% down, Depends on whether credit score is 720+ OR 719 or below.
Assuming that you qualify based on full doc income, Best wholesale rates at this moment are 4.875% but you will be paying a mortgage insurance premium in addition.
Without knowing a loan amount it’s impossible to know the extra payment.Rates can be different in a few minutes.
A lock guarantees your rate, but you still need to qualify.Loan limit in San Diego County is $546,250
If you want an update, you can contact me at [email protected]
ParticipantScarlett,,
Rates move around all day long…Please understand there is no rate that fits all people. It depends on what you qualify for.
With 10% down, Depends on whether credit score is 720+ OR 719 or below.
Assuming that you qualify based on full doc income, Best wholesale rates at this moment are 4.875% but you will be paying a mortgage insurance premium in addition.
Without knowing a loan amount it’s impossible to know the extra payment.Rates can be different in a few minutes.
A lock guarantees your rate, but you still need to qualify.Loan limit in San Diego County is $546,250
If you want an update, you can contact me at [email protected]
ParticipantThat’s more misleading information to confuse people.. but I guess the rate sounds good.
Those are retail rates.People have no idea what they qualify for.
For those that do qualify,Right now, the 30 YR WHOLESALE rate is 4.875%
That’s with 1 point + 3rd party closing costs.With 0 points 5.375% + closing costs.
Can change at any time.
I know a mortgage guy who is calling his buddies and past clients right now, telling them he has a great deal for them, 5.25% with ONLY 1 point, and they are falling for it. He’s screwing his friends.
He will get a nice chunk back from the lender as well.
They think that it’s good to have friends in the mortgage biz…..they are so lucky !!!
ParticipantThat’s more misleading information to confuse people.. but I guess the rate sounds good.
Those are retail rates.People have no idea what they qualify for.
For those that do qualify,Right now, the 30 YR WHOLESALE rate is 4.875%
That’s with 1 point + 3rd party closing costs.With 0 points 5.375% + closing costs.
Can change at any time.
I know a mortgage guy who is calling his buddies and past clients right now, telling them he has a great deal for them, 5.25% with ONLY 1 point, and they are falling for it. He’s screwing his friends.
He will get a nice chunk back from the lender as well.
They think that it’s good to have friends in the mortgage biz…..they are so lucky !!!
ParticipantThat’s more misleading information to confuse people.. but I guess the rate sounds good.
Those are retail rates.People have no idea what they qualify for.
For those that do qualify,Right now, the 30 YR WHOLESALE rate is 4.875%
That’s with 1 point + 3rd party closing costs.With 0 points 5.375% + closing costs.
Can change at any time.
I know a mortgage guy who is calling his buddies and past clients right now, telling them he has a great deal for them, 5.25% with ONLY 1 point, and they are falling for it. He’s screwing his friends.
He will get a nice chunk back from the lender as well.
They think that it’s good to have friends in the mortgage biz…..they are so lucky !!!
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