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I need to vent....
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10-04-2012, 03:21 PM
Post: #1079
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I need to vent....
KYLE THEEE SPINKS FAN Wrote:Yea, I brought that up to my mortgage guy....here's the thing...The credit lines need to be open for a continuous period of 12 months. Also, if I did add anything to the credit report, the underwriters would see that, it would damage my credit score a bit, and potentially disqualify me from the loan all together. It'd be a huge no-no to get stuff on credit once pre-qualified for a loan. It's such a fucked system right now. They want you to have open lines, but don't want you to open lines at certain times. There just seems to be no common sense in the banking industry right now. People in great financial standing get denied loans, but people who can barley afford what they have are getting loans from the bank. Shit, the bank even pre-qualified me for a home way out of my price range. I'm a first year associate, and they would have signed off on a loan for a house costing 258K. Nothing has changed in this industry, except unclear regulations that haven't fixed much.You might need a new broker. Honestly, I'd put it all on him to find you a loan. That's his job, and the reason that you are paying him a commission. "And you got your own steez about you that I appreciate bro. I see it." - Snoop |
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