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UTPhil2006

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Posts posted by UTPhil2006

  1. 1 hour ago, 2300 Nueces said:

    I'm a builder in DFW.  Contemplating dumping inventory to front run the flood of pre owned homes about to hit the market.  Have loan conditions frozen for new home buyers?

    As long as they have a strong stat line (good LTV, credit, DTI) they're fine.  Now FHA (and all gov loans) are gonna tighten up pretty soon.  By April 15th soon.

    • Like 1
  2. 1 minute ago, Hmbre97 said:

    For someone with good credit (750+), what is the DTI limit for loans now?

    Also, for first time home buyers programs in Texas, when does the 3 yr clock start to determine eligibility?

    45% for conventional 50% for FHA.  UWM (one of the bigger lenders) is at 40% DTI unless you have 3 months reserves, then its normal.  Haven't seen anything from any other lenders yet.

  3. 2 hours ago, Celery Man said:

    How are you single homies doing? My frame of reference is all fucked up since all I can think be doing is a rapid cycle of drinking until to blackout, waking up in a cold sweat panic, and starting again. For all my bitching about being slammed last week I’m counting my blessings that I haven’t gotten remotely bored yet and I’m getting enough socialization with my wife to not be going a bit weird. Thinking about you guys.

    Boredom and no sports the biggest thing.  But during the week I'm pretty slammed with Refinances and whatnot so not much different there.  So all in all not bad at all.

  4. 10 year down .07 to .67.  DJI up 690.

    Also, we may start to see things tightening up as far as the low end of things from traditional lenders.  If you're 680 and up, and a solid DTI, you're still for the most part set.  If you're getting the fringe limits of DTI, they're gonna want more reserves (ability to repay), etc.  Self employed will face a bit tighter restrictions.  Nothing over the top quite yet, but just leaning towards stronger loans.  If you've got a good stat line (good credit, good DTI, reserves/down payment) nothing to worry about as of now.  And this is only one lender so far, but I'm willing to bet their stance starts to trickle  down.

  5. On 3/28/2020 at 2:54 PM, UT_OB1 said:

    Thanks for the “don’t worry” upthread. 
     

    Does stimulus bill do much for owner/landlords?  I don’t have any other employees than myself and my wife (and I don’t mean we are represented as employees) and we use contractors. 

    @troph has had pretty solid advice on the Surly owners thread so they may be who to ask better, but my initial thought is probably not

  6. 4 minutes ago, Steel Shank said:

    We're at 64% LTV, 3.50% (30 yr) and both w/ excellent credit scores. Plan to be here a while. Any chance of improving on the rate? A 15 yr maybe? 

    That's pretty solid.  If 30's got down to 3.0 or you were open to buying points to get it there it might work, but would probably need to be 3.0% on a 30 for it to make it worth your while.  You can email me at the email address a couple posts up if you want me to take a look at costs to get to 3.0

  7. 8 minutes ago, JesusSweatDuck said:

    Can someone point me to a broker or bank that will return my calls? I have 3 houses I would like to refi (primary and 2 rentals) but can't get anyone to respond

    Have you reached out to me?  Can't think of anyone we've missed over the last couple weeks, but if I have I apologize.  You can email me if we havent spoke though - pdubord@prodigymbo.com

  8. 2 hours ago, Wulaw Horn said:

    So, Mr. Cooper looks like it's blowing up- not accepting any new loans... 

    Never liked those guys all that much but don't need to take any more capacity out of the market right now.

     

    Saw an email from them saying something about making sure to lock by 9pm.  Never have had to use them for anything, I think maybe one of our team members used them once, so not a real game changer for us.

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