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Started By
Message
Rec me a mortgage lender in BR
Posted on 6/20/17 at 10:22 pm
Posted on 6/20/17 at 10:22 pm
Long story short, son needs a lender who will do in house financing.
DTI is record high because of him attending PA school and loans are off the charts. We've tried FHA and was a no go. Tried Rural development and they said same thing. I would co sign but we just built a 400k home so I can't finance another home at the moment.
So my question is, is there someone or a bank you know that does in house financing thats not financially unfeasible?
DTI is record high because of him attending PA school and loans are off the charts. We've tried FHA and was a no go. Tried Rural development and they said same thing. I would co sign but we just built a 400k home so I can't finance another home at the moment.
So my question is, is there someone or a bank you know that does in house financing thats not financially unfeasible?
3
Posted on 6/21/17 at 12:34 am to Tres7139
Try Jessica @ Landmark Bank in Zachary (225) 654-5607.
Posted on 6/21/17 at 12:39 am to rmc
Thank you for that. Will give her a call tomorrow
Posted on 6/21/17 at 11:18 am to Tres7139
as a lender for a Bank who has in house financing no one is going to touch a loan with a DTI over FHA standards. FHA max DTI is 55% of gross monthly income. that is 10% higher standard than an normal conventional loan. I hate to say this but without a cosigner to bring the DTI down he will not qualify for a Home loan.
Posted on 6/21/17 at 5:37 pm to Tres7139
quote:
DTI is record high because of him attending PA school and loans are off the charts.
I'm not passing judgement, but doesn't he have more than enough debt to keep him occupied already? Why not rent for awhile, clean up some of the debt that he has and THEN purchase a house once his finances are more in order?
All I'm saying is, what's the rush?
Posted on 6/21/17 at 9:53 pm to Jag_Warrior
He is. Signed a contract that pays for 52% of his loans.
Currently is renting @ $1200 month which is ok but he obviously prefers to lower that to save for a house. Trying to purchase a condo/townhome
Currently is renting @ $1200 month which is ok but he obviously prefers to lower that to save for a house. Trying to purchase a condo/townhome
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