Do we have to use 1003 Loan Application when we purchase residential house?
Sung A asked: Hi
Year 2006 I purchased house ($625K). I hired mortgage broker and he applied loan for me. BB&T was my lender and loan was approved in 20 days. I put $125K for deposit and got $500K loan. Last year one of my friend told me that BB&T is not a wholesale lender. There [...]
why do we need to have insurance on the land portion of our construction loan?
Mary B asked: We are getting a construction loan through Wells Fargo. We have bought land already and have a loan on it with another bank that we are going to roll over into the construction loan. Our loan officer told us that we have to get insurance on the whole loan amount but that [...]
loan officer making a deal behind our back?
erin asked: we’re currently in the process of getting an FHA mortgage loan with bank of america. for some reason, it’s very important we tell our loan officer who our realtor is. my boyfriend thinks he’s going to try to make some kind of a deal behind our back. why does it [...]
who would you trust more to give you a home loan?
ethansmama2008 asked: Mortgage loan officer or tradition bank?
Should I be suspicious that my mortgage banker wont tell me the details of my potential loan?
J-Blaze asked: I’m in the process of getting preapproved for a mortgage loan. Initially, the loan officer said I would probaly qualify for $200,000 or a monthly payment of $1600-$1700. I went to the banks website, applied for preapproval, and the loan officer said the bank would give me a loan. I asked him [...]
My loan officer under estimate our loan process and now hurting our contingency (10 days) ?
tensy asked: Our loan officer Under estimate our lender loan process andn ow our contingency letter for 10 days bail out is now compromised. It’s been 10 days after escrow open. AND our loan hasnt even been reviewed by the bank. Reason was, lender has been getting bogged down with loans infront of ours. And [...]
Realitor is pushing me to go with a loan officer?
VinWin asked: I have recently started to look for a house and have already have been pre-approved by my bank for a mortgage. My bank will provide a loan officer at any time to meet with me. I also started to work with a realtor who seems to be pushing a loan officer, [...]
I have given the conditions of my loan to the underwriters does that mean my loan has been approved?
sallymollyap asked: My loan officer called the other day and gave me a few conditions on my loan, such as bank statement, tax info from the house that we currently live in etc… We are supposed to close on the house next Thursday, does it sound like our loan has been approved and why do [...]
NEHEMIAH CORPORATION AND FHA( LOAN OFFICER)?
CONCERNED asked: I was pre-aproved by FHA AND NEHEMIAH PROGRAM which would help me with my closing cost and down payment.I was told to ask the seller for a 6% back and that would be for closing and down payment cost. my question is IF THE HOUSE IS SELLING FOR 176,500 from this amount the [...]
What are the steps required to buy a house from parents below (way below) market value of the house?
24K asked: I want to purchase my parents house from them, below the market price, any advice from lawyers, bank loan officers? Oh and what about closing cost fees?
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