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Current FHA Max DTI?

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StartingOver10
Moderator Emerita

Re: Current FHA Max DTI?


@Anonymous wrote:

CS800 commented-

 

"t's slow and I feel like there are too many layers and some do not know much. then you have to get frustrated and then they wonder why."

 

They probably have as many layers of bureaucrats as the govt.  The LO in the branch probably has 8 bosses, and none can really make a decesion.  "Hey do I need to pay off this student loan first?"

 

"I dunno let me check"  And 3 days later you get a answer.

 

There is something to be said about full time professional mortgage people, that do nothing but mortgages and can give answers when asked.

 

I also learned anybody answering a 800 # for most big places, can't make decesions.


^^^So true. Once in a great while you will find a good LO at a big box bank but most of them now just have "application takers" and have no idea about mortgage guidelines or even the mortgage process.  This is by design IMO so the banks don't have to pay well. With an experienced and knowledgeable LO the bank will have to pay for their expertise. They have also made the processing centralized so the nooby 'application taker' has no idea where the file is at any given time. That's why I almost always recommend going to a true mortgage professional (correspondent lender or mortgage banker)- the difference is night and day. Besides - usually the loan is sold to one of the big box banks for servicing so you get the best of both worlds. Smiley Happy

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