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UTPhil2006

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Posts posted by UTPhil2006

  1. 45 minutes ago, Gil Bang said:

    depends where the seller is located, IMO. I live in the shadow of Camp Pendleton, and VA loans are very common around here, and seller's don't bat an eye at them..

    One thing to consider: you're not going to be able to buy a complete POS fixer with a VA loan.  There are minimum standards for the condition of the  home that a conventional lender will overlook.

    Modessit:  Do you have your DD214?  If not, start looking for it now...you will need it. 

     

    Guessing Austin because of teaching in AISD.  Good info on the minimum standards and DD214

  2. You are correct, VA is 0% down with no MI.  Seller can certainly help with closing costs as well (title, to be negotiated by your Realtor, which we can be and assist you with as well).  Credit score would be the other main qualification which as long as your 650+ (in most cases) and income requirements (Debt to income ratio) as well as making sure you are eligible for a VA loan (which it sounds like you are) via https://www.benefits.va.gov/HOMELOANS/purchaseco_certificate.asp

    As far as sellers not liking VA loans, it just really depends.  It just is less wiggle room when the appraisal comes.  In a multiple offer situation they may choose a different loan because of stronger qualifications (higher earnest/option money, cash down, etc) but can't really speak to sellers across the board not liking them -- case by case basis.

  3. 1 hour ago, Fastbreak said:

    I just did my 2nd refi with Phil and Prodigy. I am probably a worst case scenario, I live outside of the US (in a country that basically has a 1/2 page yearly income statement), have limited US income, had a high credit to asset ratio and have a condo that is a rental unit -- but the guys got it done.

    Thanks! No more CC debt!

    That's right people - Prodigy Mortgage is worldwide bitches!  Thanks for the kind words, glad we could take care of you again!

  4. On 5/4/2018 at 10:13 AM, FigurelliPwC said:

    Thanks Phil, that is exactly what my lender quoted so that makes me feel better.  He suggested we go with the 30 and just make extra payments if we want to payoff sooner.

    Yep that makes a lot of sense. You can always pay the 30 like a 15 and have that cushion if something comes up.  Especially in this case where the rates are almost the same. 

  5. 7 hours ago, vicerous said:

    Thanks for the info Tx/Phil, that's about what I had assumed. Stubborn MIL is despondent about the house - It needs a roof and some other things and she's completely overwhelmed. Needs the cash sooner rather than later but I'm trying to get her to listen to reason/talk to an actual realtor so she at least knows where she stands. 

    Yep we’ll for sure give her a call today to go over things. 

  6. <--- Resource.  We do Mortgages and Real Estate and have done 500+ Surly/Shaggy members homes.  I can definitely help you and walk you through the entire process.  You can always email me at pdubord@prodigymbo.com (Mortgage) or phil@reihomerealty.com (Real Estate) at any time with any questions.  Where are you located?

  7. On 4/20/2018 at 8:42 AM, UTPhil2006 said:

    Back up to 2.90 area.  Basically we go up to around 2.95 then down to 2.75 and hover in between in the interim, at least that's how it's been for about the last 90 days for those that have asked about rates or the future of rates.

    Passed 3.00 for the first time since 2013 sitting at 3.03 currently. 

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