All Forum Posts by: Daniel Ragland

Thanks Wayne for your comment and insight. 

Shaun, I'm in total agreement with your assessment in this is unacceptable.  The lender had all me financials (pay stubs, bank accts, taxes, etc) just about two weeks into the app process.  I have done the appraisal, inspection, survey. etc.  It totally makes no sense in my opinion.  The difference between GFE and Actual can't be no more than $150 monthly.  Go figure!  Now I can get my loan processor to return my calls or e-mails.  We're talking about a big commercial bank and lender.  Thanks for the offer and insight.  I may actually need your assistance.

Thanks Bill for your comment. I am actually trying to obtain new financing on a SFR to be used a rental property. I'm putting 20% down for a 30yr mortgage at 4.25 percent.

My loan processors for a lender I won't disclose out of the nowhere tells me after factoring the accurate numbers for (HOI, property taxes and flood ins) my ratio came higher than acceptable and to contact my loan consultant regarding loan re-structure. WTH??? Has anyone experienced this situation before? How should I handle this? I am suppose to close in last than a week and I been thrown this HUGE curve ball. I seems as though the lender is trying to steer me in accepting a higher interest rate to approve the loan. This is totally nuts if this is the case.

Your input is greatly appreciated.