Can anybody recommend a lender? Someone who knows the ins and outs.

Asked by Jennifer, San Diego, CA Mon Jul 21, 2008

I have a high debt to income ratio so I need a lender who knows their stuff. I'm paying 1600 a month (and it goes up every year!) now for a place I hate, I know the payment would be less for a house. I have one I can get for 260,000 if I act fast. I know I can make the payment I have a solid job and I'm on my way up, but this place I'm in now is dragging me down.

I don't have a lot in savings because I'm working to pay off my debt. I know the scenario the loan companys want 3 percent down, 3 payments in the bank besides, 5,000 a month or more coming in and no debt payments. Well I'm a real person, I built some debt getting where I am. I've achieved a good income and I'm paying off my debt, but I don't want to wait two years to move, I don't want to throw away thousands of dollars on this place I'm in (which I'll have to do if I stay), I want to get in a better situation now while the housing prices are low.

Don't advise me to stay, recommend someone I can work with please!

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Jed Bratt &…, Agent, San Diego, CA
Thu Oct 10, 2013
I strongly recommend Charles Vamadeva, he is extremely knowledgeable and a great problem solver.
Charles Vamadeva, Snr. Loan Executive Direct Lender
Office: (909) 255 8722 NMLS# 289913
Direct (951) 551 7633 Fax (951) 755 0420
0 votes
Catlover, Home Buyer, Georgia
Fri Nov 21, 2008
I used a guy just last month i only had to put down 3%. i dont want to give his number out over here but his email is he was very nice and explained everything to me which is not something you usualy get with a lender
0 votes
Robert Chome…, , San Diego, CA
Mon Jul 21, 2008

I'm a Sr. Loan Officer right here in San Diego. Give me a call or email 858-922-7899 or

I would need to know you yearly salary, monthly debt (auto loan, credit card, student loan), and credit score to accurately pre-qualify you. 97% FHA loan does not require you to have cash reserves. They are good to have when purchasing, but they don't require them.

Additionally, I specialize in special grants and down payment assitance programs across San Diego County and the state of CA. We can discuss to see if you qualify. We can probably get you the 3% down as down payment assitance, and possibly a much larger down payment assitance. Give me a call to discuss.

Warm Regards,
Rob Chomentowski
Sr. Loan Officer
Affinity Financial
0 votes
Brent Bester, , Columbus, OH
Mon Jul 21, 2008

I would try to stay with someone local too. You'll feel more comfaortable. I would go to a bank and try to talk to someone that fully understands your situation. I actually got a 67% debt ratio approved last year. It might be tougher to do now, if I even could do it now. But you want to at least make sure they run the loan through Desktop Underwriter if your going conforming. If you going to do an FHA loan make sure the Loan officer is very knowledgeable about FHA guidelines as well as the underwriters. I've seen people good at sales with no knowledge on FHA guidelines and that can waste alot of time.

Brent Bester
Mortgage Professional
0 votes
Alison Clay-…, Agent, Manhattan Beach, CA
Mon Jul 21, 2008
I would advise going to the Better Business Bureau's website and search there for a lender who has a good rating. Make a call and develop a relationship. It is a good way to start.
0 votes
Trina Searcy, Agent, Tallahassee, FL
Mon Jul 21, 2008
I like to stay local Jennifer. It's important to have the ability to look across the deck & shake hands with your lender.
0 votes
Sj209, Both Buyer And Seller, California
Mon Jul 21, 2008
Wells Fargo, Priscilla Taylor. Good luck.
0 votes
Luke Allison, , Asheville, NC
Mon Jul 21, 2008
I know this may sound like a sales pitch but I work for a national lender and I see your scenario all the time. For your situation, I would recommend an FHA loan. The rates are great, you can do Down Payment Assistance for the 3% and pretty much get into your home for nothing out of pocket. I do this all the time. Your debt ratio would actually not be that bad according to the guidelines.
If you have an ounce of faith in this, please call me. I will be glad to speak to you in great depth about your situation and not ask you to pull your credit, etc.
I can originate in all 50 states and I do not have to "broker" your loan.
Please call me if you get a chance.
Luke Allison
Flagstar Bank
0 votes
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