Credit Card Center Advertiser Disclosure†
11-19-2012 12:58 PM
NVR is asking us to pay off EVEN more debt, compounded by the 3.5 required Good Faith money, and saving for reserves of 4,000. This is all within a 4 month span. Somehow according to their calculations my DTI is over 50% When I calculate myself its 48%. Seems like they are just trying to boost the appeal of the loan to make it easier to sell to their investors, not get a customer in a house. Luckily I have been talking with several other LO and WILL NOT be going with them even if they do "find a way to make it work"
11-19-2012 01:34 PM
NVR is a home builder. They own Ryan Homes, NV Homes, and Fox Ridge Homes (?). They also process mortgages in house through NVR Mortgage and NVR Settlement Services.
11-19-2012 02:41 PM
I simply told my NVR Loan rep that I'm not paying off anything else. My contract just says I have to get financing not I have to be approved through NVR to get the house. I will get financing just not through these jokers.
11-19-2012 02:57 PM
Make sure there isnt any kind of incentives by using their mortgage company.
You could be losing out on some money by switching. But then you can always scream and yell at the higher up over at Ryan homes =)
11-19-2012 03:02 PM
There is a 7500 closing cost incentive but we were TOLD we get this anyways if we could find a better deal with an outside lender
11-19-2012 08:42 PM
There seems to be ALOT of recent negative threads concerning Ryan Homes...
I noticed that as well. I don't understand why a person would trust someone to build them a home if things seem odd in any part of the deal.
I looked at a 2 year old home (foreclosed upon and not in any way related to Ryan Homes as far as i know) and noticed it was crooked.
Mentioned it to the sales lady - her response "Oh, the first builder in the development was not a very good builder". Scarrrrrry.
11-20-2012 04:56 AM
We currently lived in a rented Ryan Home and it's nice. I just don't trust their mortgage arm. That is the chief complaint I see around the internet. Every builder will have unsatisified customers if you've built over a quarter million homes. I will be watching them like a hawk when they finally start construction on our condo so I am not the least bit worried about getting an inferior house.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.