All Forum Posts by: Brendon Foster

In this area It's not un-heard of with that commute. it will simply be up to the underwriter and they may or may not want more info on your employment, such has how often do you need to be in the city etc. It's a roll of the dice 

Having worked there and been successful, their pre-approvals are worthless if you have a bad LO or a newbie. every LO is trained to ask for the documents after submitting the pre-approval. clearly anyone who wants financing most likely isn't lying about their financing, but sitting down with a local banker compared to someone over the phone makes no difference. it's 2017 and technology is all around. I have people that sit down with me and people who just send their documents after they are approved. Its a myth that you have to sit down in front of someone as they are going to ask you the same questions over the phone or face to face. 

If you had a bad experience you had a bad LO who didnt know or care what he was doing, and they LO probably got punished for his lack of customer service. 

Hi Nicole, 

I used to work for quicken in Detroit for almost 3 years also Licensed in CA . with any lender you can have a good or bad experience, just depends on the quality of loan officer  you have. Don't be worried about being approved in 30 minutes, sometimes I was able to do it in 15-20 just depending on the profile. if they approved your and you like the rate then no need to worry. the process can be very good and fast ,or very stressful if your LO has not set the proper expectations upfront.

let me know if you have any further questions 

@Jillian Sidoti I believe donations. they used examples such as instead of buying physical wedding gifts or baby gifts, to just donate to their home funding page instead. 

Released today Fannie Mae now allows crowdfunding for down payment. thought I would share with the BP community

https://www.cnbc.com/2017/10/05/a-new-way-to-buy-a-home-crowdfunding-the-down-payment.html

I've never been told that you need a specific reason and I even double check with colleagues in my office. as long as the DTI is in line then it should matter what you use it for

Sounds like that is their personal policy. There are many lenders that will allow you to use your HELOC. just need to figure out what your payment will be on it to figure out the debt to income ratio.

@Deangelo Yurcek ^^^^

Hi Jasmine,

Personally I would want to own my own first because paying rent is just money down the drain. once you have a your own home later on you can use that equity to purchase your first investment property as well.  At the end of the day your money your life your call lol.

Let me know if you have any financing questions :) 

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