chris23's Questions re Minimum Requirements for Mortgage in USA
Feb 4th 2017, 3:38 pm
#16
BE Enthusiast
Joined: Jul 2013
Posts: 417
Re: chris23's Questions re Minimum Requirements for Mortgage in USA
Conforming loan limits depend on location. For instance, San Diego is $612,950. The full list is here:
http://www.housingwire.com/ext/resou...ASED_FINAL.pdf
I have heard nothing but bad things about Wells Fargo for mortgages. Stories about their delays are really common.
https://www.reddit.com/r/RealEstate/...ers_forced_to/
I used my realtors preferred mortgage broker. This made the house buying process easier because the broker and realtor knew each other. I refinanced 6 months afterwards to reduce my PMI. And refinanced again 6 months after that to remove my PMI completely.
Feb 4th 2017, 3:45 pm
#17
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,448
Re: chris23's Questions re Minimum Requirements for Mortgage in USA
Mortgage brokers have so been accused of all sorts of dubious practices too, such as diverting people into mortgages that generate the most fees, rather than those with the lowest interest rates for the applicant given their credit score ansmd circumstances.
Feb 4th 2017, 3:53 pm
#18
Lost in BE Cyberspace
Joined: Jul 2008
Location: Portlandia Metro
Posts: 7,425
Re: chris23's Questions re Minimum Requirements for Mortgage in USA
Super Conforming Mortgages - Freddie Mac
http://www.bankrate.com/finance/taxe...insurance.aspx
Last edited by mrken30; Feb 4th 2017 at 3:58 pm.
Feb 5th 2017, 9:24 pm
#19
Austin. TX.
Joined: Sep 2013
Posts: 5,930
Re: chris23's Questions re Minimum Requirements for Mortgage in USA
I'd be very surprised if a new arrival to the USA was able to get a mortgage from anyone other than a big lender like WF.
Feb 6th 2017, 12:55 am
#20
Lost in BE Cyberspace
Joined: Jul 2008
Location: Portlandia Metro
Posts: 7,425
Re: chris23's Questions re Minimum Requirements for Mortgage in USA
I don't think it makes much difference because they all get sold on. A small bank will generally give you more personal service.
Mar 17th 2017, 2:53 am
#21
Forum Regular
Joined: Mar 2017
Location: Oregon
Posts: 84
Re: chris23's Questions re Minimum Requirements for Mortgage in USA
Thanks to Pulaski for pinging me on this.
To the OP I can send you my contacts details via pm - a few other posters that I've sent to this team have got mortgages based on UK financial information. They can't ask for UK credit history stuff so they ask for 1 or 2 years worth of bank statements, tax statements, bills etc. Nothing too onerous and stuff you've probably got around. Off the top of my head I think everyone else has had full time jobs in the US but one couple got their mortgage before even moving here. So I think it's definitely worth contacting them and having a chat at least.
Tom169 I'll send the contact to you too.
GeoffM, they did mess us about a bit right at closing - they told us that they had underestimated the amount of money we would need at closing. This was a major PITA because we had to get from France in May and what with time differences, bank holidays every sodding week and french regulations about transferring over 10k euros it took over a week and of course you have to document where the money came from etc all over again. (Sale of french house so show sale documents and so on).
I got my house at a very good interest rate on the mortgage so that's what counts I guess.
To the OP I can send you my contacts details via pm - a few other posters that I've sent to this team have got mortgages based on UK financial information. They can't ask for UK credit history stuff so they ask for 1 or 2 years worth of bank statements, tax statements, bills etc. Nothing too onerous and stuff you've probably got around. Off the top of my head I think everyone else has had full time jobs in the US but one couple got their mortgage before even moving here. So I think it's definitely worth contacting them and having a chat at least.
Tom169 I'll send the contact to you too.
GeoffM, they did mess us about a bit right at closing - they told us that they had underestimated the amount of money we would need at closing. This was a major PITA because we had to get from France in May and what with time differences, bank holidays every sodding week and french regulations about transferring over 10k euros it took over a week and of course you have to document where the money came from etc all over again. (Sale of french house so show sale documents and so on).
I got my house at a very good interest rate on the mortgage so that's what counts I guess.
Apr 22nd 2017, 7:32 am
#22
Just Joined
Joined: Aug 2016
Posts: 8
Re: chris23's Questions re Minimum Requirements for Mortgage in USA
Hey @petitefrancaise , I'm in the same situation: any chance you could send me the contacts of the mortgage team you used, please?
Apr 25th 2017, 1:55 pm
#23
Austin. TX.
Joined: Sep 2013
Posts: 5,930
Re: chris23's Questions re Minimum Requirements for Mortgage in USA
It's usually better to pm us if you need something like this. I often unsubscribe to threads so it's just pure luck that I saw this.
Apr 25th 2017, 1:58 pm
#24
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,448
Re: chris23's Questions re Minimum Requirements for Mortgage in USA
I will remember that and alert you - I had seen it (the above post) but assumed you would soon find it.
