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@matthewphillips5483
2 жыл бұрын
How do I find a mortgage lender who understands this? The problem with guidelines is they only matter if the person you are dealing with knows (or cares) about it. I tried Rocket Mortgage and I had an IBR letter from my servicer and they said they cannot accept it because the payment said "estimated" instead of "calculated." I explained to them that this is just how my servicer words things but it is the payment. They insist that they have to use 1% of the loan balance (this was Conventional I was applying for btw)
@MortgageHowDoI
2 жыл бұрын
Matthew, you’re speaking my language!!! You’re absolutely right! Sometimes a lender may have an “overlay” which essentially means they are going to add additional guidelines on certain topics. In most cases though it really comes down to the knowledge of the loan advisor. It’s ok to talk to a few loan advisors until you find one that is well versed in this area. DM me with the state you’re in and I’ll let you know who I know there that can assist on this.
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