| Author |
Previous Topic | Next Topic |
|
dellloans
234 Posts |
 Posted - 05/12/2008 : 5:14:57 PM
|
| Does anyone know if there is any chance of getting this through? Borrower has perfect credit, zero derogs., been on same job for 21 years, $130k in assets but I am getting refer eligible due to DTI. This is for a good buddy of mine and he has a house he really wants. He is down in Socal and I am telling him to wait for another year to buy but he has his heart set on this one house. Would manual underwrite approve? thanks. |
|
PMFMike
204 Posts |
Posted - 05/12/2008 : 6:19:09 PM
|
| Closed a loan similar to this one about a month ago. DTI was actually even higher, and the reserves were lower. From a make sense standpoint, this loan makes complete sense. I have a few good FHA lenders that will approve this all day and night. If you need help let me know. |
|
|
dkendall1979
8732 Posts |
Posted - 05/12/2008 : 6:21:01 PM
|
| 620+ fico, we can do. |
|
|
RGK2394
1077 Posts |
Posted - 05/12/2008 : 6:24:53 PM
|
I could see more for a refi, but for a purchase?
Who's the best DTI based FHA lender? I have a WI FHA make sense refi refer/eligible due to DTI as well, 52%, paying off a ton of debt, some reserves, but lower rate/overall payment as a result of loan. Do you have to par out the loan, etc? Sorry, not trying to hijack the thread, but pretty much same question as OP-
Thanks! |
|
|
PMFMike
204 Posts |
Posted - 05/12/2008 : 6:26:41 PM
|
| If you are saving a few hundred, I would recommend my fav FHA lender. Shoot me a PM and ill get you in contact with the appropriate party. I have closed a 52%, 57% and even a 62% in recent months with them. As long as the loan makes sense. |
|
|
dellloans
234 Posts |
Posted - 05/12/2008 : 6:36:42 PM
|
| absolutely i am interested. what lenders can do it? Also, borrower is contemplating putting more cash down but I am telling him to just wait. we will see. |
|
|
dellloans
234 Posts |
Posted - 05/12/2008 : 6:39:57 PM
|
| credit score is 755. He has a great job working for a very well known company we all shop at. He is expecting a significant job promotion within next 2 years, thus why he is contemplating such a high dti. |
|
|
dkendall1979
8732 Posts |
Posted - 05/12/2008 : 6:58:38 PM
|
Submit today and we'll have you broker approved/loan approval by Thursday.
6% <.25>
6.5 <1.5>
30yr fixed, 30 day lock
quote:
Originally posted by dellloans
credit score is 755. He has a great job working for a very well known company we all shop at. He is expecting a significant job promotion within next 2 years, thus why he is contemplating such a high dti.
|
|
|
dellloans
234 Posts |
Posted - 05/12/2008 : 7:10:09 PM
|
dave-
I just sent you an email. |
|
|
| |
Previous Topic | Next Topic |
|
Search for: 
