Author Topic: Any mortgage experts on the forums?  (Read 14274 times)

Offline cgr

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Re: Any mortgage experts on the forums?
« Reply #150 on: July 28, 2020, 01:49:39 PM »
2.3% is with points? and how much approx total closing costs in NJ?
No points but she's been very cranky about extending these rates to others.
I believe KeyBank doesn't offer mortgages in NJ.

The Kearny Bank rep (30 year rate listed) has been a lot more helpful and while he might not have that rate right now, he can get back to you when the rate is at that level and lock you in (these things fluctuate on a day to day basis- might be 2.7% today and 2.6% tomorrow.)


Offline Berenstein Bear

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Re: Any mortgage experts on the forums?
« Reply #151 on: July 28, 2020, 02:23:07 PM »
Hi, I'd appreciate if any experts can weigh in.

Our Kollel stipend is paid directly to our landlord, check written out to his name. For SNAP purposes, we'd like a letter that states this info something to the effect of:

John Doe is full-time researcher at our ABC Institution. We are paying his monthly rent directly to his landlord in the amount of $x,xxx.

Once this letter is used, the school won't change it for us. Meaning, we can't have a letter written differently for mortgage etc. purposes.

Specifically for getting a mortgage, will such a letter work for us? Will the amount be counted as income? Or will we be writing off the kollel stipend from ever being a factor in being approved for a mortgage.

Thank you

Offline davidd75

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Re: Any mortgage experts on the forums?
« Reply #152 on: July 28, 2020, 02:29:48 PM »
No points but she's been very cranky about extending these rates to others.
I believe KeyBank doesn't offer mortgages in NJ.

The Kearny Bank rep (30 year rate listed) has been a lot more helpful and while he might not have that rate right now, he can get back to you when the rate is at that level and lock you in (these things fluctuate on a day to day basis- might be 2.7% today and 2.6% tomorrow.)
whats their email please Kearny bank?

Offline cgr

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Re: Any mortgage experts on the forums?
« Reply #153 on: July 28, 2020, 02:31:08 PM »
whats their email please Kearny bank?
PM me

Offline shapsam

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Re: Any mortgage experts on the forums?
« Reply #154 on: July 28, 2020, 08:36:32 PM »
Anywhere online that I can get a pre approval letter ASAP (without waiting for a callback)?

Offline JACKBLUE

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Re: Any mortgage experts on the forums?
« Reply #155 on: July 28, 2020, 09:01:38 PM »
Are rates higher for a condo (primary home)?
No. at least not in NYC.

Offline erlich

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Re: Any mortgage experts on the forums?
« Reply #156 on: July 28, 2020, 09:40:22 PM »
Anywhere online that I can get a pre approval letter ASAP (without waiting for a callback)?
Pm me ,I might be able to help
Thanks

Offline shapsam

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Re: Any mortgage experts on the forums?
« Reply #157 on: July 28, 2020, 10:09:41 PM »
Pm me ,I might be able to help
Thanks
I just got it though credible.com with a soft credit pull. Thank you anyway.

Offline dovy2

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Re: Any mortgage experts on the forums?
« Reply #158 on: July 29, 2020, 04:59:07 PM »
Hi, I'd appreciate if any experts can weigh in.

Our Kollel stipend is paid directly to our landlord, check written out to his name. For SNAP purposes, we'd like a letter that states this info something to the effect of:

John Doe is full-time researcher at our ABC Institution. We are paying his monthly rent directly to his landlord in the amount of $x,xxx.

Once this letter is used, the school won't change it for us. Meaning, we can't have a letter written differently for mortgage etc. purposes.

Specifically for getting a mortgage, will such a letter work for us? Will the amount be counted as income? Or will we be writing off the kollel stipend from ever being a factor in being approved for a mortgage.

Thank you

No bank will take just a letter for a mortgage

For snap and Medicaid letters might be enough, when it comes to a mortgage, you need much more than just a letter.

Offline Berenstein Bear

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Re: Any mortgage experts on the forums?
« Reply #159 on: July 31, 2020, 10:28:46 AM »
No bank will take just a letter for a mortgage

For snap and Medicaid letters might be enough, when it comes to a mortgage, you need much more than just a letter.

Thank you for your response. More than the letter, it seems we won't be able to count as income ever once we use such a letter. Will there be anyway for a bank to count this money in the future if it isn't called income?

Offline gozalim

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Re: Any mortgage experts on the forums?
« Reply #160 on: July 31, 2020, 01:05:49 PM »
I have heard of heimish brokers who are able to count parsonage checks towards mortgage
(and even at a higher rate, because it's %100 housing instead of %30-50).
Someone like that works be able to tell you how to word the letter and the check.

Offline cgr

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Re: Any mortgage experts on the forums?
« Reply #161 on: July 31, 2020, 01:19:46 PM »
I have heard of heimish brokers who are able to count parsonage checks towards mortgage
(and even at a higher rate, because it's %100 housing instead of %30-50).
Someone like that works be able to tell you how to word the letter and the check.
Check out this guy: http://shluchimfunding.com/
If you don't meet the criteria to work with him, he should be able to direct you to someone who can help.

Offline zh cohen

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Re: Any mortgage experts on the forums?
« Reply #162 on: August 02, 2020, 09:20:40 PM »
I have heard of heimish brokers who are able to count parsonage checks towards mortgage
(and even at a higher rate, because it's %100 housing instead of %30-50).

Pretty sure that's only if the check is made out to you (not the landlord).

Offline gozalim

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Re: Any mortgage experts on the forums?
« Reply #163 on: August 03, 2020, 05:43:15 PM »
asking for a friend:
mortgage company accidentaly reported a forbearance payment late.
they admit the error.
initiated a dispute  with experian. EX is now waiting for response from mortgage company
MC says they responded EX says they're still wiaiting. over a month with no movement.
would meanwhile like to begin proccess for a new mortgage, so can't just wait it out indefinitely.

is there a way to 'bring them together'?
is there someone who deals with this for a reasonable price?

Offline CountValentine

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Re: Any mortgage experts on the forums?
« Reply #164 on: August 04, 2020, 08:12:08 PM »
Most likely it is the MC.
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch