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Financing in 08094 : Real Estate Advice

  • All35
  • Local Info1
  • Home Buying17
  • Home Selling3
  • Market Conditions1

Activity 6
Fri Aug 5, 2016
Specialangel24 answered:
Tue May 6, 2014
Randy Tanner & Lindsey Racher answered:
Hello,

If you click on the 'find an agent tab' at the top of this page you can find local lenders and choose one you may like.

Regards,

Randy Tanner
RE/MAX Direct
561-420-7955
tannergroup2@gmail.com
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Wed Apr 9, 2014
answered:
I'd love to take a look at the property and get the details to see if I can help you.

I lend in all 50 states and we can do mobile home as long as it is a double wide and on real property.

Thank you,

Andrew Byrd
Goldwater Bank, NA
208-818-3768
abyrd@afg-co.com
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Mon Jan 14, 2013
S answered:
Sat Nov 19, 2011
answered:
Typically we require that at a maximum you have a 50% DTI- however I would like to see how this was calculated and see if we could calculate your income to get you to qualify. Sometimes income is not cut and dry and one underwriter will look at something one way while another will look at it another way.

Also we may be able to provide you a cheaper rate on a fixed 203k or even potentially qualify you on a FHA 203k 5/1 ARM which would give you more room for qualification purposes. Not everyone has that product so you might not have been offered it yet. Being so close I would tend to think there should be a way to get it done.

One last thing to keep in mind is that if you exceed the normal guidelines for an FHA loan of a 43% DTI, we like most lenders, will want to see that you have some compensating factors such as reserves (assets) in the bank after close, additional down payment, good job stability, higher scores, etc. There are more but that is a small sampling. Remember- higher DTI means higher risk for us as the lender and the more compensating factors to make the underwriter feel warm and fuzzy the better!

Hope this helps and feel free to reach out to me as I would like to help you out if you haven't already closed on your loan.
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