I'm seriously considering leaving San Francisco in hope of finding a progressive area, art centric, farmers markets and all within walking distance. Being born and bread in sf I know I was spoiled but I'm hoping to find a place to purchase that will be centrally located to amenities. Anything comes to mind? Thank you!
There are two things that factor into whether or not a debt will be excluded when there is less than ten months remaining.
The first one is are we talking about a car lease? If so, an underwriter will not excluded it because they know once the lease is up you are going to lease or buy a car to replace it so you will still have a payment.
The second factor has to do with the actual payment. The exact guidelines state:
If the amount of the debt will affect the borrower's ability to pay the mortgage during the months immediately after loan closing, especially if the borrower will have limited or no cash assets after loan closing.
As you can see, this is not as simple of an answer as it seems.
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Senior Mortgage Banker
Lending in ALL 50 states
Great Plains National Bank
I'm not familiar with the houses in Chapel Hill, NC but we do have PB piping in Arizona. All I can tell you is, after the Class action lawsuit of Cox v. Shell Oil in 1995 was enough to make it no longer useable by U.S. building code standards. It last anywhere between 10 to 15 years after that it starts to leak from the inside out causing catastrophic damage. I recommend you negotiate with the owner to replace it with copper piping instead.... more
A buyer agent should be well experienced with new construction. The easy part is finding a neighborhood and builder. The hard part is negotiating a great deal for the buyer with upgrades and extras. The hardest part is making sure the home is built to specification. Many builders only pay a small amount to buyer agents. There is not much to split. You may find many discount agents willing to split are not that experienced with building, listing new homes or selling new construction from start to finish. You should ask up front what experience they have, what they can do for you and what they may charge... more
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