All Forum Posts by: David Kelly

@PaFoua Vang Xiong

Hi, I am based in Mn and do lend nationally if needed. Let’s connect today if you have time. Feel free to send a pm. Thank you! David

You should always shop around.  Things change in peoples lives first of all and you might not find yourself in the same path as you think you are now.  The other big reason to get the best terms now is that you have no idea where the rates market will be in a year from now.  They may be higher than what you qualify for now and in that case you will be stuck with your first rate.  You have 30 days from your first MTG credit pull to shop without it affecting your credit score.  PM me with more details and I will tell you if you are on the right path.

Unfortunately the down payment requirements cannot change with conventional lending.  The lender did not do the proper research when looking up your property.  You might get some other ideas on other types of lenders on here but the conventional Fannie/Freddie route wont be any different.

look at a mortgage calculator to see how much in interest you are saving and figure out how long it will take to recoup that cost.  

Hello, 

I am liscened in 48 states and would be happy to help.  Feel free to reach out for a pre-approval and see my rates/closing costs.  PM if interested.

You first want to make sure that your credit is in good standing and have a 2 year work history.  A conventional lender will need this if you want to go that route.  Work on getting your credit score to at least 720 or higher, 780-800+ is best and will allow you the better/cheaper rates/Mortgage insurance.  Connect with a lender to figure out a game plan on the lending side now, vs later.  

As a lender I am not able to advertise/post rates.  The most important point I can make is that if one lender prices it out one day, the next day can be different.  This is frustrating for a lender (and borrower) because you may be shopping a rate that  you got last week when over the last several days the market took a negative hit and rates increased.  But, when you go back to that same lender you first got numbers from, that rate/cost will most likely be more expensive.  If you are interested in checking rates tomorrow, feel free to get in touch with me.

@David Flores

I suggest shopping a few lenders to make sure the costs and rates are in line. I sent you a PM if you would like another option. Cash out rates from different lenders can be very volatile.

@Christina Hall

I would love the chance to show you what I can do as far as rates and costs are concerned. It sounds like they are overcharging. Feel free to reach out to me on PM and I can get a quote for you by the end of the day tomorrow!

 As myself being in more of a Lender role I have more experience in qualifying and quoting loans.  I would have to divert this opinion to all the others on here that do the investing/management.