When shopping for a mortgage, what was the hardest part / worst part of YOUR loan process?
2006-08-10 08:43:48 · 12 answers · asked by kylemesa 2 in Business & Finance ➔ Renting & Real Estate
I'd guess the down payment.
After that it was the mortgage payment - they seemed to think it was too high, yet it was only $20 more than my current rent?!?!
After that it would probably be debt ratio.
2006-08-10 08:48:48 · answer #1 · answered by dm_dragons 5 · 0⤊ 0⤋
I would say the hardest part of the mortgage is your credit check and proof of income to qualify,the worst part of the whole thing is sitting thru the closing knowing everyone there is ripping you off,(you pay for everything,including for them to sit there and smile at you)
2006-08-10 08:50:19 · answer #2 · answered by phkenphun 1 · 0⤊ 0⤋
the hardest part is getting straight answers. My mortgage payment was $750 when I was talking to my broker. When my first payment was due, it ended up being $925..
My advice, get rich and pay cash for a house. It has to be a million times easier.
2006-08-10 08:52:01 · answer #3 · answered by owensb01 3 · 0⤊ 0⤋
I am a loan officer, so I am not supposed to tell you this. you need to elimnate your closing cost as much as possible. Some banks & LO's carge you out the ying yang because people don't know any better. The best item to do is go to a few banks, but do not let them pull your credit. Each inquiry causes your score to go down and ultimately your rate will go up. Thier area few good mortgage companies out there, but most of us are loan sharks...sory but it is the truth!!!
2006-08-10 08:51:33 · answer #4 · answered by O Jam 3 · 0⤊ 1⤋
For Finance and credit solutions I visit this website where you can find all the solutions. http://creditandfinancesolution.info/index.html?src=5YAyupqlHD761
RE :Whats the hardest part of getting a Mortgage?
When shopping for a mortgage, what was the hardest part / worst part of YOUR loan process?
Follow 12 answers
2017-03-26 20:14:21 · answer #5 · answered by ? 6 · 0⤊ 0⤋
Getting my lender and real estate agent to call me back, but the worse was at the point when you finally get someone to "take" the loan and they give you a list of things you have to do before they approve you (mine wanted a written letter from my landlord after Katrina and everyone was out of state)
2006-08-12 14:27:07 · answer #6 · answered by stuffy 5 · 0⤊ 0⤋
i'm shocked you're working so heavily with the processor as antagonistic to the non-public loan officer. i contemplate whether the non-public loan officer is known with that his processor is killing his earnings. attempt to touch the unquestionably very own loan officer. If the nonsense maintains and you nonetheless have time, discover yet another lender. not at all heard something like this earlier.
2016-09-29 03:22:10 · answer #7 · answered by bugenhagen 4 · 0⤊ 0⤋
Debt ratio and everything that goes into it (income/credit check/etc).
Typically, if it is your first mortgage they will want to see proof of financial assets (savings accounts, 401k, etc) as well.
2006-08-10 09:02:25 · answer #8 · answered by intelbarn 3 · 0⤊ 0⤋
Finding an honest loan officer who truly has your best interest in mind. Once you accomplish that everything else will fall into place : ) ca_loanofficer@yahoo.com
2006-08-10 15:56:30 · answer #9 · answered by Anonymous · 0⤊ 0⤋
The same question pops up again
2016-08-23 04:02:49 · answer #10 · answered by tami 4 · 0⤊ 0⤋