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Great mortgage brokers that you used
« Last edited by yesitsme on October 08, 2021, 02:06:12 AM »

Author Topic: Any mortgage experts on the forums?  (Read 86739 times)

Offline yelped

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Re: Any mortgage experts on the forums?
« Reply #500 on: April 21, 2023, 01:08:06 PM »
Itís pretty nuts, but at this point a poor credit score would still be a net negative (but barely). I assume it will still be harder for those with poor credit to qualify for the actual loan though.

Overall, lower-credit buyers will still pay more in LLPA fees than high-credit buyers Ė but the latest changes will close the gap.

ďThe official said the LLPA changes will result in an average price hike of just three to four basis points, or 0.03% to 0.04%, across the spectrum of mortgage recipients Ė the equivalent of a few dollars per month.Ē
Main issue is that the increase for consumers with high credit scores is substantial (more than .03%), and it is to subsidize those with bad credit.

Offline happyyyr

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Re: Any mortgage experts on the forums?
« Reply #501 on: April 25, 2023, 11:21:08 AM »
I have 250k morgatge on my house in 08701. House should appraise for 850k. Looking to either get a helok or 2nd morgatge. Which of the tow has better rates and which place can get this done quickest?
Ty 

Online my08701

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Re: Any mortgage experts on the forums?
« Reply #502 on: April 25, 2023, 04:51:13 PM »
I have 250k morgatge on my house in 08701. House should appraise for 850k. Looking to either get a helok or 2nd morgatge. Which of the tow has better rates and which place can get this done quickest?
Ty
call Yosef Pick at TD in Lakewood. he is honest and will give you the differences..

Offline Yakov15

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Re: Any mortgage experts on the forums?
« Reply #503 on: May 29, 2023, 03:19:37 PM »
Iím looking to purchase a home and rent it out for a few years, until I can afford to move in. Is it a simple process to use expected rental income to get approved for a loan?

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Re: Any mortgage experts on the forums?
« Reply #504 on: May 29, 2023, 03:25:28 PM »
Iím looking to purchase a home and rent it out for a few years, until I can afford to move in. Is it a simple process to use expected rental income to get approved for a loan?
yes and your Morgage broker should tell you what can be expected. Btw You need to keep one rental for yourself.

Offline Yakov15

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Re: Any mortgage experts on the forums?
« Reply #505 on: May 29, 2023, 03:35:17 PM »
yes and your Morgage broker should tell you what can be expected. Btw You need to keep one rental for yourself.
Thanks. And if itís a single unit property I will need to get an investment type loan?

Offline AsherO

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Re: Any mortgage experts on the forums?
« Reply #506 on: May 30, 2023, 12:37:24 AM »
Thanks. And if itís a single unit property I will need to get an investment type loan?

Itís an entirely different type of mortgage if it isnít going to be your primary residence.
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Offline theblakdavid

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Re: Any mortgage experts on the forums?
« Reply #507 on: July 12, 2023, 03:29:25 PM »
AFAF- trying to get a mortgage and mortgage broker is telling him his credit score is too low- he should davka open a cc jointly with someone at bofa and will help get his approvals from bofa

Does that make any sense and why would that make more of a difference over any AU on a cc?

Offline ckmk47

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Re: Any mortgage experts on the forums?
« Reply #508 on: July 12, 2023, 04:20:45 PM »
AFAF- trying to get a mortgage and mortgage broker is telling him his credit score is too low- he should davka open a cc jointly with someone at bofa and will help get his approvals from bofa

Does that make any sense and why would that make more of a difference over any AU on a cc?
He could probably become an authorized user on an existing card of someone with good credit.
That broker may often work with BOA or knows what criteria they use to give mortgages.
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Online cgr

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Re: Any mortgage experts on the forums?
« Reply #509 on: July 12, 2023, 04:34:15 PM »
AFAF- trying to get a mortgage and mortgage broker is telling him his credit score is too low- he should davka open a cc jointly with someone at bofa and will help get his approvals from bofa

Does that make any sense and why would that make more of a difference over any AU on a cc?
BofA reports AUs differently than other banks. From my experience most mortgage brokers recommend that rather than Chase or Amex for a quick credit boost. My understanding is that Chase is hit or miss with reporting AUs and Amex reports the date that the AU was added which doesn't help.

Offline theblakdavid

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Re: Any mortgage experts on the forums?
« Reply #510 on: July 12, 2023, 05:05:41 PM »
BofA reports AUs differently than other banks. From my experience most mortgage brokers recommend that rather than Chase or Amex for a quick credit boost. My understanding is that Chase is hit or miss with reporting AUs and Amex reports the date that the AU was added which doesn't help.
Cool- so technically any au that would hit and backdate can help but bofa reports differently so higher chance of success?

Offline Mf1

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Re: Any mortgage experts on the forums?
« Reply #511 on: November 25, 2023, 09:00:21 PM »
Doeas anybody know if its actually worth trying to qualify for down payment loan in ny from https://hdfconnects.org/downpayment-closing-costs-assistance/?utm_source=zillow&utm_campaign=dpr&utm_medium=partner

Offline bFeldman

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Re: Any mortgage experts on the forums?
« Reply #512 on: December 06, 2023, 07:33:12 AM »
How soon after I close on my house and get the keys can I apply for a new credit card?

Offline ckmk47

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Re: Any mortgage experts on the forums?
« Reply #513 on: December 10, 2023, 09:25:43 PM »
How soon after I close on my house and get the keys can I apply for a new credit card?
Immediately
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Offline yfr bachur

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Re: Any mortgage experts on the forums?
« Reply #514 on: December 11, 2023, 03:34:50 AM »
Anyone with experience with israeli mortgages?

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Re: Any mortgage experts on the forums?
« Reply #515 on: January 22, 2024, 03:56:21 PM »
Anyone ever hear of or use ĎLoan Factoryí