Forums
New posts
Search forums
What's new
Articles
Latest reviews
Author list
Classifieds
Log in
Register
What's new
Search
Search
Search titles and first posts only
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Forums
Chatting and General Stuff
General Discussion
Anyone out there in the mortgage business?
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="Broz" data-source="post: 317772" data-attributes="member: 7503"><p>I am not a lender but have been involved with realestate for a long time. The last properties I sold I noticed the underwriters were looking at the borrowers " Debt to Income Ratio" more than the credit score. Not to say that the beacon scope is not important, infact they now require a higher score for the better rates. But I seen people with great scores and record of payments turned down because of their debt ratio. So I would look at reducing any debt she can prior to application. Don't close out C cards, just pay them of or down to 30% 0r less of their limit. This will look best on your credit file.</p><p> </p><p>Again, I am no professional lender but have been involved in getting buyers financed on several homes in recent years.</p><p> </p><p>Jeff</p></blockquote><p></p>
[QUOTE="Broz, post: 317772, member: 7503"] I am not a lender but have been involved with realestate for a long time. The last properties I sold I noticed the underwriters were looking at the borrowers " Debt to Income Ratio" more than the credit score. Not to say that the beacon scope is not important, infact they now require a higher score for the better rates. But I seen people with great scores and record of payments turned down because of their debt ratio. So I would look at reducing any debt she can prior to application. Don't close out C cards, just pay them of or down to 30% 0r less of their limit. This will look best on your credit file. Again, I am no professional lender but have been involved in getting buyers financed on several homes in recent years. Jeff [/QUOTE]
Insert quotes…
Verification
Post reply
Forums
Chatting and General Stuff
General Discussion
Anyone out there in the mortgage business?
Top