Fantasy Football - Footballguys Forums

CR69

Members
  • Content Count

    1,468
  • Joined

  • Last visited

Community Reputation

276 Excellent

About CR69

  • Rank
    Footballguy

Previous Fields

  • Favorite NFL Team
    Dallas Cowboys

Recent Profile Visitors

The recent visitors block is disabled and is not being shown to other users.

  1. Like everyone else, USDA is getting backed up. We used to have 24-48 turn times and now it's 3-5 days. Another variable is the package put together by the lender. If it's sloppy or incomplete, it might be going back and forth between the lender and USDA. USDA (along with every other program) also tightened up their automated approvals over the last month. We've had several files that got approval suddenly switch to a manual underwrite when nothing in the file changed. It's made for an interesting month lol.
  2. USDA is very strict and updated a lot of their guidelines last December. If the loan officer doesn't do a lot of them they can take awhile, especially considering they have to actually be reviewed by USDA before closing.
  3. Saw one recently through PenFed (I think?) that was 6.5% and they go up to 80% IIRC.
  4. Real estate typically does well during recessions because of low rates so I wouldn't expect major price drops but the low rates will certainly help cash flow.
  5. I'm a big Barry fan. Had the chance to chat with him at Mastermind in Vegas a couple months ago and he really made an impact on our team's production. Hopefully with some of his advice we'll cross the $100m mark this year.
  6. Pretty much this. Another 1% drop over the next year or two wouldn't surprise me.
  7. Where did you hear this regarding the 120 day rate lock? Also I'm assuming at no additional cost given their experience from 3 years ago?
  8. Please don't pay points to lower your rate right now. It is highly likely rates are going to drop to all time lows when we hit the next recession. Try a no fee refi if at all possible so you can take advantage if/when they drop another 1%.
  9. https://twitter.com/keithedwards/status/1157740352838742016?s=21 #### this. Ban them all.
  10. You people recommending singly ply toilet paper are ####### barbarians. I will echo the sentiments on bagged knock off cereal. Some of them are actually better than the original imo.
  11. Yes, that will be very tough in that situation. You can always chat with them over the phone to try and get a feel for them and their personality to see if it's a good fit. Once you settle on a lender they can hook you up with a good agent. Lending Tree is just going to give you the absolute cheapest option which doesn't mean they actually know what they're doing. Your best option probably isn't the cheapest but they may save you thousands without realizing it by preventing you from wasting money on inspections and appraisals when you or the house don't qualify, not to mention losing seller concessions if they're not able to close on time. That's not even going into the actual advice part of mortgage when it comes to down payment, program, paying off debts and using your equity strategically down the road. I do know of a great loan officer in Texas if you want her info. She works for the same company I do, shoot me a pm if you're interested.
  12. That's not entirely true these days. You hit the highest tier for interest rates at 740 but most mortgage insurance companies (if you're going conventional and putting less than 20% down) have moved to risk based pricing where there are additional credit tiers at 760 and sometimes even 780 depending on the LTV, DTI, number of borrowers, program, etc.
  13. A purchase with an online lender can go well but it's risky. You need someone that can hit your closing deadline or it can end up costing you money. I would suggest getting some recommendations from friends, family and your realtor. Meet with 2-3 places to compare rates, fees and see who you feel comfortable with. The relationship and advice is important in a purchase transaction because of the money involved and time frame. Regardless, do not go with quicken. Their rates and fees are awful. Easily the worst in the industry.
  14. Why should only the rich and powerful be given this courtesy?
  15. Nice start, take it down!