[HLS]

If you are expecting to get a loan and a condo cert is required and one hasn’t been approved by an underwriter, you are wasting your time even thinking about buying the place.

Many people qualify as borrowers but the condo complex doesn’t qualify. There are various reasons for this, and it doesn’t matter how high your credit score is or how much you are putting down or how much money you make.

Even an 800 credit score wanting to put 75% down can’t get financing on some condos.

If you are going to pay cash, you can buy whatever you want.
Expect to pay $50 to $100 to get a cert filled out by the mgmt company, and around $400 for an appraisal. You can also be charged $100-$200 to have the lender named as add’l insured on the master policy.

[HLS]

If you are expecting to get a loan and a condo cert is required and one hasn’t been approved by an underwriter, you are wasting your time even thinking about buying the place.

Many people qualify as borrowers but the condo complex doesn’t qualify. There are various reasons for this, and it doesn’t matter how high your credit score is or how much you are putting down or how much money you make.

Even an 800 credit score wanting to put 75% down can’t get financing on some condos.

If you are going to pay cash, you can buy whatever you want.
Expect to pay $50 to $100 to get a cert filled out by the mgmt company, and around $400 for an appraisal. You can also be charged $100-$200 to have the lender named as add’l insured on the master policy.

[HLS]

For those that qualify, VA may be the best way to go. On ANY loan, to get the lowest rate, there are usually fees.

You can take a higher rate and think that you aren’t paying any fees, BUT YOU ARE. If you keep the loan for more than 3-5 years, that no cost loan will end up costing you a lot more.

Any DECENT mortgage broker will tell you up front here is your cost to use me, and any commission from the lender will offset that charge, NOT go into their pocket.
It’s not a complicated discussion, even if your loan is complicated.

Today’s 30YR fixed conventional pricing for loans below $417K for a perfect borrower is 4.875% with no added points, no origination fee, no transaction fee or any other garbage loan fees. At that rate the lender will pay the loan costs.

10% down is OK on a purchase, same rate with mortg insurance added, IF one qualifies.

I don’t know how this compares to VA rates today.
ALL rates move a bit every day. .HLS

[HLS]

For those that qualify, VA may be the best way to go. On ANY loan, to get the lowest rate, there are usually fees.

You can take a higher rate and think that you aren’t paying any fees, BUT YOU ARE. If you keep the loan for more than 3-5 years, that no cost loan will end up costing you a lot more.

Any DECENT mortgage broker will tell you up front here is your cost to use me, and any commission from the lender will offset that charge, NOT go into their pocket.
It’s not a complicated discussion, even if your loan is complicated.

Today’s 30YR fixed conventional pricing for loans below $417K for a perfect borrower is 4.875% with no added points, no origination fee, no transaction fee or any other garbage loan fees. At that rate the lender will pay the loan costs.

10% down is OK on a purchase, same rate with mortg insurance added, IF one qualifies.

I don’t know how this compares to VA rates today.
ALL rates move a bit every day. .HLS

[HLS]

For those that qualify, VA may be the best way to go. On ANY loan, to get the lowest rate, there are usually fees.

You can take a higher rate and think that you aren’t paying any fees, BUT YOU ARE. If you keep the loan for more than 3-5 years, that no cost loan will end up costing you a lot more.

Any DECENT mortgage broker will tell you up front here is your cost to use me, and any commission from the lender will offset that charge, NOT go into their pocket.
It’s not a complicated discussion, even if your loan is complicated.

Today’s 30YR fixed conventional pricing for loans below $417K for a perfect borrower is 4.875% with no added points, no origination fee, no transaction fee or any other garbage loan fees. At that rate the lender will pay the loan costs.

10% down is OK on a purchase, same rate with mortg insurance added, IF one qualifies.

I don’t know how this compares to VA rates today.
ALL rates move a bit every day. .HLS

[HLS]

For those that qualify, VA may be the best way to go. On ANY loan, to get the lowest rate, there are usually fees.

You can take a higher rate and think that you aren’t paying any fees, BUT YOU ARE. If you keep the loan for more than 3-5 years, that no cost loan will end up costing you a lot more.

Any DECENT mortgage broker will tell you up front here is your cost to use me, and any commission from the lender will offset that charge, NOT go into their pocket.
It’s not a complicated discussion, even if your loan is complicated.

Today’s 30YR fixed conventional pricing for loans below $417K for a perfect borrower is 4.875% with no added points, no origination fee, no transaction fee or any other garbage loan fees. At that rate the lender will pay the loan costs.

10% down is OK on a purchase, same rate with mortg insurance added, IF one qualifies.

I don’t know how this compares to VA rates today.
ALL rates move a bit every day. .HLS

[HLS]

For those that qualify, VA may be the best way to go. On ANY loan, to get the lowest rate, there are usually fees.

You can take a higher rate and think that you aren’t paying any fees, BUT YOU ARE. If you keep the loan for more than 3-5 years, that no cost loan will end up costing you a lot more.

Any DECENT mortgage broker will tell you up front here is your cost to use me, and any commission from the lender will offset that charge, NOT go into their pocket.
It’s not a complicated discussion, even if your loan is complicated.

Today’s 30YR fixed conventional pricing for loans below $417K for a perfect borrower is 4.875% with no added points, no origination fee, no transaction fee or any other garbage loan fees. At that rate the lender will pay the loan costs.

10% down is OK on a purchase, same rate with mortg insurance added, IF one qualifies.

I don’t know how this compares to VA rates today.
ALL rates move a bit every day. .HLS

[HLS]

VA (and FHA) is more problematic, and extra fees.
I assume that you are doing nothing down.
Usually, without fees, the rate is slightly higher. You end up paying one way or the other.

You deserve the benefit of zero down for serving the country. Thanks for your service.

Too bad they make it so complicated.
I hope that it closes on time without more headaches for you… HLS

[HLS]

VA (and FHA) is more problematic, and extra fees.
I assume that you are doing nothing down.
Usually, without fees, the rate is slightly higher. You end up paying one way or the other.

You deserve the benefit of zero down for serving the country. Thanks for your service.

Too bad they make it so complicated.
I hope that it closes on time without more headaches for you… HLS

[HLS]

VA (and FHA) is more problematic, and extra fees.
I assume that you are doing nothing down.
Usually, without fees, the rate is slightly higher. You end up paying one way or the other.

You deserve the benefit of zero down for serving the country. Thanks for your service.

Too bad they make it so complicated.
I hope that it closes on time without more headaches for you… HLS

[HLS]

VA (and FHA) is more problematic, and extra fees.
I assume that you are doing nothing down.
Usually, without fees, the rate is slightly higher. You end up paying one way or the other.

You deserve the benefit of zero down for serving the country. Thanks for your service.

Too bad they make it so complicated.
I hope that it closes on time without more headaches for you… HLS

[HLS]

VA (and FHA) is more problematic, and extra fees.
I assume that you are doing nothing down.
Usually, without fees, the rate is slightly higher. You end up paying one way or the other.

You deserve the benefit of zero down for serving the country. Thanks for your service.

Too bad they make it so complicated.
I hope that it closes on time without more headaches for you… HLS

[HLS]

AK..
You started your loan early last month and it’s still not done ?
You are 5-6 weeks in and still being asked for conditions ??

The person who took your app should have warned you about a paper trail when transfering funds and other issues up front. Don’t be surprised if they continue to ask for more documentation. You should have received an update before a couple of weeks had passed.

If you had locked your loan, someone should have been on top of your closing date all the way through the process.

I cannot imagine that their rate was that great but hopefully you loan will close and fund on time.
Still sounds like crappy service.

Virtually nobody gets special treatment just because you are a previous customer.
Guidelines are tougher than ever for everybody.

[HLS]

AK..
You started your loan early last month and it’s still not done ?
You are 5-6 weeks in and still being asked for conditions ??

The person who took your app should have warned you about a paper trail when transfering funds and other issues up front. Don’t be surprised if they continue to ask for more documentation. You should have received an update before a couple of weeks had passed.

If you had locked your loan, someone should have been on top of your closing date all the way through the process.

I cannot imagine that their rate was that great but hopefully you loan will close and fund on time.
Still sounds like crappy service.

Virtually nobody gets special treatment just because you are a previous customer.
Guidelines are tougher than ever for everybody.

[HLS]

AK..
You started your loan early last month and it’s still not done ?
You are 5-6 weeks in and still being asked for conditions ??

The person who took your app should have warned you about a paper trail when transfering funds and other issues up front. Don’t be surprised if they continue to ask for more documentation. You should have received an update before a couple of weeks had passed.

If you had locked your loan, someone should have been on top of your closing date all the way through the process.

I cannot imagine that their rate was that great but hopefully you loan will close and fund on time.
Still sounds like crappy service.

Virtually nobody gets special treatment just because you are a previous customer.
Guidelines are tougher than ever for everybody.

[Author]

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