Mortgage Appraisal High
No/Low-Doc mortgage refi with a 680 FICO?
Can this work? We are willing to sacrafice for a higher rate. NO late payments on anything (mortgage, credit cards), high income to debt ratio (40-45%) but in good standing with consumer debt (long card holders), have assets to show as well as more than $25k in a checking account alone. Looking to refi $623k with a home appraisal of $700k.
What else do they look/ask for in these cases?
NO, we didn’t lose any jobs. Have income we don’t want to divulge.
Hey, can U co-sign for me?
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The above mentioned are the basic requirements in order to qualify for a home loan. Secondly, I was interested to know how big a home loan I could get considering Mortgage Appraisal High. As soon as I knew how much, I could start searching for a house.
Mortgage Appraisal High
Can a mortgage broker charge a fee for a mortgage they couldn’t fund? application fees, etc?
We started working with a broker, had an appraisal performed, submitted all required information. After a few weeks we finally received a gfe, the brokers fees were too high and we have taken our business elsewhere. Can he charge us for tasks he has performed?
we didn’t sign an application, we signed a form allowing them to check our assets
You’ll have to pay for the appraisal; if you paid an application fee, that probably won’t be refunded.
That’s about it.
Next time get the GFE before you do an appraisal. This loan officer should have gotten you a GFE about 10 minutes after he took your application. Better that you have moved on.