Quote:
Originally Posted by joelewis
What's up Bossku69? Try out your local credit union. A lot of the smaller credit unions maintain the serving rights in house versus the larger banks that are looking to sell on the secondary market through Fannie and Freddie. Basically, big banks and online mortgage companies are subject to the recent gov pushed guidelines and there is little wiggle room with guideline exceptions. Smaller local banks are a bit more flexible because they are not subject to the same fannie and freddie mac guideline changes if they keep servicing rights in house. You will have to do a little research on your own to find a flexible credit union. Hit me up if you have any further questions. I was in real estate finance/mortgage industry since 2002.
Jchedda from Fling.com ICQ 574 008 320.
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thanks
im talking to a small credit union now. its the same place I have my auto loans through and they were very lenient on that process, so figured this would be easier... but no.
im told that no matter what I need to have PMI until I reach 20% equity. he said there are a few "tricks" if the value of the house is much higher they will take that into consideration but my DTI is about 50% and can not be any higher than 45%