buying a home in virginia: What To Do If Your Mortgage Financing Is About To Fall Through
- 05/09/14 06:26 AM
It Happens for Many Reasons… Your debt to income ratio sneaks up higher than the underwriter will allow because of higher property taxes or homeowner’s insurance than your loan officer estimated. You loan officer wasn’t aware that you pay child support and your debt to income ratio is now too high. (Remember to tell your loan officer EVERYTHING at application.) You went under contract within 90 days of the prior acquisition of the home by the seller (a home flip) and your loan now requires more stringent underwriting. The underwriter calculates your income differently than your loan officer did–usually when tips, overtime, or bonuses are … (8 comments)
It Happens for Many Reasons… Your debt to income ratio sneaks up higher than the underwriter will allow because of higher property taxes or homeowner’s insurance than your loan officer estimated. You loan officer wasn’t aware that you pay child support and your debt to income ratio is now too high. (Remember to tell your loan officer EVERYTHING at application.) You went under contract within 90 days of the prior acquisition of the home by the seller (a home flip) and your loan now requires more stringent underwriting. The underwriter calculates your income differently than your loan officer did–usually when tips, overtime, or bonuses are … (8 comments)
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