Skip to main content

Realtors. Brokers. Lenders. Anyone. What do I do??

My husband and I spoke with a realtor and a mortgage broker about selling our current townhome and buying a house. We have 3 kids (8 years and under). Hard pull was done on our credit and we were "Approved Eligible" in which we were told by the mortgage broker we have to sell our home for no less than X money and buy for no more than X money. Well my house receives an offer fairly quickly (4 days after going on the market) and we docusign papers on a Wednesday night at 8. Friday morning at 11 the mortgage broker tells me that we are only approved for X amount which is $50,000 under what we were told and we're expecting. Which gets us NOTHING. So he tells us our choices are buying for that amount or rent something out until credit is fixed. My credit is over a 700. I make more money than my husband. My husband's credit is 526. The broker tells me all these hypotheticals, if you pay this debt off, if you pay this collections off, etc. it'll bring his credit score up. So we did everything he told us to do and he still tells us his credit is only at a 575 and he needs it at a 580. So now at this point I have no where to go. I don't have deposits (first and last month) for a rental, I don't even want to rent anyways because we want a house for our large family. Did I get screwed? What do I do? Talk with another broker? Call lenders myself? What are the chances my current mortgage bank offers me the amount I want? Our mortgage is paid on time monthly. I'm not behind any payments. HELP PLEASE!!!

submitted by /u/No-Reference4894
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1bgs2n5/realtors_brokers_lenders_anyone_what_do_i_do/

Comments

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/

Making offers on houses not listed for sale.

I want to buy a home for retirement. I am looking at lots of options, mostly focusing on the locations that appeal to me. I see lots of Zillow estimates of homes that look like great deals to me. Are these estimates accurate, even though similar houses in the same area that are for sale are usually priced much higher? If so, is it realistic for me to try to make offers to owners that do not have their homes listed? Would a realtor even consider helping me do this? Or, do these values indicate that the houses listed for sale are overpriced, and I should just lowball until someone accepts? Are houses today tending to sell far below list prices, or ??? submitted by /u/chewybrian [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1o4mcon/making_offers_on_houses_not_listed_for_sale/