I can answer any question regarding Mortgage loans for Purchase or Refinance. I currently work as a Mortgage Banker in Dallas, TX and have experience as a Mortgage Broker. The favorite part of my job is helping First Time Home Buyers. I also consider myself an expert of Credit and Credit Qualifying for a home loan. Many of my loans are the result of showing clients how to credit qualify for a loan after they were denied in the past. We do FHA, VA & Conventional Financing. I have extensive experience in Investor Loans as well. I will NOT answer questions about 'getting around guidelines', ect. Or if I sense that you are trying to call your 'investment' property a primary residence, I will reject the question. I will ALWAYS err on the side of caution if I sense that the question is fraudulent in nature.
7 years experience as a Mortgage Broker and as a Mortgage Banker
Mortgage Professionals in Texas are required to take many ethics courses and other industry training to satisfy State mandated continuing education requirements.
Site Owner of DallasLoanGuy.com which has lots of free mortgage info for the First Time Homebuyer and Veteran Homebuyer as well.
I love helping First Time Home Buyers.
It is a LOT easier to qualify for a home loan than you think!
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Unless they are on the loan, they will not be on title. You can deed the property to them later though..... Careful, technically they could call the note due upon transfer but i have never seen it happen
What you make at the time will be used. Income verification is heavily scrutinized these days for fear of the govt regulations. Maybe you can get into a 'lease to own' situation. 'buy into the va'
Yes you can. Talk to the bank servicing the loan and see how they handle it. I know some people send 2 checks. 1 regular pmt and another principal reduction. Some lenders allow you to write in extra amount
Technically, you will still qualify with the new job's income. But since things are a wee bit tighter these days, if you were on the new job 6 months that might help. I think it really will come down
No. The non-occupant co-borrower with stellar scores can help the file approve, but we use the lowest mid score of all borrowers to 'price' the loan. Most real estate contracts are pretty cut and dried
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