Author Topic: Lakewood: Awesome Mortgage program for 1st time buyers (Read 98301 times)

MarkS · « **Reply #200 on:** July 10, 2014, 12:57:37 AM »

Quote from: bingit on July 10, 2014, 12:50:43 AM

Does anyone have exp. getting the td loan thru the LRRC ? I heard they are hard to deal with and hard to get thru to(both TD & LRRC).

You're not really getting the loan 'through LRRC' you just need to take a class there to be eligible for the loan.

TD is hard to deal with, but to be fair- at the rates theyre giving they're not really making any money.

Its worth the aggravation of dealing with them to save over $80K.

bingit · « **Reply #201 on:** July 10, 2014, 12:59:51 AM »

Quote from: MarkS on July 10, 2014, 12:57:37 AM

You're not really getting the loan 'through LRRC' you just need to take a class there to be eligible for the loan.

TD is hard to deal with, but to be fair- at the rates theyre giving they're not really making any money.

Its worth the aggravation of dealing with them to save over $80K.

I hear that. how long does the process usually take from start to finish?

MarkS · « **Reply #202 on:** July 10, 2014, 01:05:37 AM »

Quote from: bingit on July 10, 2014, 12:59:51 AM

I hear that. how long does the process usually take from start to finish?

Similar to any mortgage -45-60 days

bingit · « **Reply #203 on:** July 10, 2014, 01:08:46 AM »

How much income history do you have to show them? And what about if I just got raised this month will one pay stub for the new salary do the job ? Thanks

ah · « **Reply #204 on:** July 10, 2014, 01:10:55 AM »

JMHO I think this thread would be better somewhere else...

ybeeds · « **Reply #205 on:** July 10, 2014, 01:16:56 AM »

Quote from: bingit on July 10, 2014, 01:08:46 AM

How much income history do you have to show them? And what about if I just got raised this month will one pay stub for the new salary do the job ? Thanks

Congrats on the raise!

IIRC, you have to provide proof of the previous 2 years of income or schooling...

AI-TRAVEL · « **Reply #206 on:** July 10, 2014, 01:37:57 AM »

I took first part of seminar. Half decent half useless. You take the second part closer to closing date since it expires a year after.

churnbabychurn · « **Reply #207 on:** July 10, 2014, 07:49:46 AM »

What's the seminar specifically, how many hours of class?

shnoz · « **Reply #208 on:** July 10, 2014, 08:50:31 AM »

Quote from: churnbabychurn on July 10, 2014, 07:49:46 AM

What's the seminar specifically, how many hours of class?

two sessions of two hours

churnbabychurn · « **Reply #209 on:** July 10, 2014, 08:54:40 AM »

Do both spouses have to attend, or could just one go.?

MarkS · « **Reply #210 on:** July 10, 2014, 08:55:56 AM »

bingit · « **Reply #211 on:** July 10, 2014, 02:59:18 PM »

What exactly is the process? You go to the classes. .. and then what? You go and meet td? Or you meet with people from LRRC? is the LRRC helping you out with the whole process or do they just give you the classes and then you go on your own to td?

MarkS · « **Reply #212 on:** July 10, 2014, 03:08:38 PM »

Call LRRC and Schedule a class. Call Dennis and apply for a mortgage.

You don't need to meet anyone from TD ever. It can all be done on the phone and through mail/internet.

LRRC's involvement can begin and end with the class, or they can forward your loan docs to TD but that doesn't accomplish anything for you since you can do that yourself.

bingit · « **Reply #213 on:** July 10, 2014, 05:33:34 PM »

Quote from: MarkS on July 10, 2014, 03:08:38 PM

Call LRRC and Schedule a class. Call Dennis and apply for a mortgage.

You don't need to meet anyone from TD ever. It can all be done on the phone and through mail/internet.

LRRC's involvement can begin and end with the class, or they can forward your loan docs to TD but that doesn't accomplish anything for you since you can do that yourself.

if I want to start the process and have an appointment with lrrc in a few weeks can I already call Dennis to get things moving....? Or is he gonna ask me right away if I met with the LRRC? ?

churnbabychurn · « **Reply #214 on:** July 10, 2014, 05:39:18 PM »

Quote from: bingit on July 10, 2014, 05:33:34 PM

if I want to start the process and have an appointment with lrrc in a few weeks can I already call Dennis to get things moving....? Or is he gonna ask me right away if I met with the LRRC? ?

PUTPAC?

ah · « **Reply #215 on:** July 10, 2014, 05:43:25 PM »

This has really turned into a discussion...would think it belongs in general discussions

bubble347 · « **Reply #216 on:** July 11, 2014, 09:42:00 AM »

Did anyone ever inquire with santander as to what their first time home buyer options are? Is it a smaller down payment? A lower credit score required? No pmi? Or all or none of the above? I haven't had a chance to call them yet.

MarkS · « **Reply #217 on:** July 11, 2014, 10:53:57 AM »

Quote from: bubble347 on July 11, 2014, 09:42:00 AM

Did anyone ever inquire with santander as to what their first time home buyer options are? Is it a smaller down payment? A lower credit score required? No pmi? Or all or none of the above? I haven't had a chance to call them yet.

99% of the time First Time Homebuyer programs just mean 5% down and PMI.

bingit · « **Reply #218 on:** July 11, 2014, 11:23:49 AM »

Do any of the banks that offer first time home buyers (td, sandtana....)offer to help cover the closing costs?

bingit · « **Reply #219 on:** July 11, 2014, 01:00:12 PM »

Just spoke to Dennis from TD and he informed me that for Ocean County the rules just changed in order to be eligible for first time home owners.... as of this week the max you can earn per year was lowered from 77000 to 62000!! a drop of 15000 bucks!! not so sure I can make it work for myself now.... gotta figure it out.

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Author Topic: Lakewood: Awesome Mortgage program for 1st time buyers (Read 98301 times)