My husband and I are relocating. We both work currently. In our new state, he will be keeping his current job. I will not and I’m not entirely sure when I’ll begin working again. I’m currently a teacher where our school year ends June 28 but our new state begins August 1. We won’t be moving until end of July if all goes well and I cannot realistically begin working the same week we move states. My husband is the bread winner whose job is unaffected, I still get paid until September and we can afford to be on one salary for awhile while we get settled. Realistically, we can live on just his sa ..read more

Today I got an offer for 6.75% with 0 points, or, 6.99% (also 0 points) but I get a 1 year buy down to 5.99%. Depending on how you look at it, the difference between 6.99 and 5.99 for 1 year is about $5600 extra dollars in my pocket for the first year, but then I end up paying $116 more per month after year 1 on the 6.99 rate compared to the flat 6.75. It seems like 6.75 won’t start to win out until year 4 and that’s if I don’t refinance by then. Is the 1/0 buy down in exchange for taking a .25 rate increase after year 1 a no brainer? What’s the catch or what am I missing here? submitted by ..read more

Current home lived in for 4 years. Value 430K mortgage balance 320K. Original balance 335K Looking to purchase a second home and rent out the first one, how much could I finance on a second VA loan? Both are in areas with the standard maximum. What if the second home was more than that amount? submitted by /u/Brendon7358 [visit reddit] [comments ..read more

Tired of WA weather, selling my rental to buy new house in new state, take most stuff before also listing primary home. Since my lender will likely sell my loan within a few weeks, I don't think recasting will be available in time for my other primary to sell? Am I like having to do a refi just to squirt in my primary home sale funds on new place? submitted by /u/hortoristic [visit reddit] [comments ..read more

$7,200 gross monthly $1100 month in debt 650 credit score Will have about 7k in savings when applying, going for Ohio down payment for grads grant - will cover 2.5-5% of down payment LCOL area, want max of 150,000 house Is there a chance I can get out of my apartment or will I have to wait longer submitted by /u/Noxtoll [visit reddit] [comments ..read more

Hello! I need some advice about this situation. I talked to my lender on April 4th asking to lock the rate at 6.875% with $3134 in points. She forgot to do it and on April 11th she told me we had to lock it. The difference between the cost of the points was $1562 to keep the 6.875% and I couldn’t do it, so I had to lock the rate at 6.99% to avoid the rates to go up costing me $3742 (before it was $2307). I talked to her manager and I showed her my loan estimate signed for 6.875 on the 4th and they are willing to give the difference between the 6.99% now vs then which is $1435. Should I take i ..read more

I'm hoping to buy a house in a new state, which would obviously require new jobs, but running into difficulties with the conventional loan requirements of needing a job already lined up from some lenders I've talked to. I've heard tell of mythical lenders that will approve you based only on a SOLID credit score and access to down payment funds without all the additional requirement hassles. Anyone know any lenders that do this? submitted by /u/Sharp-Importance3262 [visit reddit] [comments ..read more

We are based out of South East Michigan. Any suggestions/recommendations for other lenders offering good rates/ costs/ service is appreciated. submitted by /u/UnfairDiscount8331 [visit reddit] [comments ..read more

I signed the authorization form 4506-C but curious if a lender pulls the transcripts. What should I expect? Will it somehow affect my mortgage? I’ve heard/read that most of the lenders didn’t actually pull the transcripts but do require the authorization. Can someone share with the experience you had, please? What about UWM and other lenders? My broker told me it’s a standard but I just want to be more confident… submitted by /u/Solid-Command8980 [visit reddit] [comments ..read more

Curious to know if anyone has purchased a car with a loan before buying a home? I know it's not recommended at all, but my car is on its last leg and where I live, I need a car. I could buy a car in cash in a few months, but I want to use that money as additional money towards the down payment. Any advice? submitted by /u/UnlikelyCommittee785 [visit reddit] [comments ..read more