=============================Title Insurance Company is irrevocably committed to issue to buyer an owners title insurance policy covering the property with standard coverage customary in the state where property is located showing liability in the amount of the purchase price and showing insurable title to the property vested in buyer, subject only to the following(a) Title Insurance company standard exceptions(b) Liens for all current general and special real property taxes and assessments not yet due and payable(c) liens of supplemental taxes, if any assessed(d) any facts an accurate survey and/or a personal inspection of the property may disclose(e) the mortgage/deed of trust/deed to secure debt lien in connection with any buyer financing(f) any laws, regulations, ordinances (including but not limited to, zoning, building and environmental ) as to the use, occupancy, subdivision or improvement of the property adopted or imposed by any governmental body, or the effect of any non-compliance with or any violation thereof, including but not limited to, any disclosure an/or report required by ordinance(g) rights of existing tenants and/or occupants of the property (if any)(h) covenants, restrictions, easements and other matters that do not materially impair the value of the property or the use thereof(i) non-monetary encumbrances disclosed to buyer in writing prior to entering into this agreement (j) any other matter for which the title insurance company agrees to provide insurance at no additional cost to buyer===========================================================

The file will be under written by Under writer and your loan scenario will be approved except property.

Ned Carey based on the information available at the time of the post, I don't see anything to indicate there's anything unethical going on in the slightest.And this practical seems practical and ethical, I'm not sure which part of the practice could be considered unethical; with the exception of saying one thing and then doing another.

I want to build a house on it, but I would not be allowed to have a bathroom.Is there any use for a piece of land like this except for picnics?

From this experience, I'm thinking in the future I might include the words in connection to the 10-day inspection period sentence, "will purchase as-is with exception of health hazards discovered during 10-day inspection".  

No exceptions.

I have seen very few variances or exceptions made by Fannie/Freddie.

Exceptions can be made to make each of these DTI's be higher or lower but those are the general numbers.To calculate DTI not only do we take all the debts included on an individual's credit but the new house payment as well.  

I am about to get my Real Estate license except I don't know how that is going to effect the loan origination since I own the properties I'm trying to finance.

When you do so you can make investments inside of the IRA to acquire real estate or any other type of alternative investments (the only exception would be collectibles and life insurance contacts).