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I am hoping to get an FHA loan, but I also want to refinance my car loan in order to reduce my DTI. Should I refi now or wait until after I speak with the lender?
Thanks,
Jelly
Anyone?
I considered this as well....it's best to ask your LO...they are 1million % on your side.
This question will be answered quickly by them. Also, FYI....I app'd right after getting a new CC. It was only 1 month old. Peanuts. Never heard a thing about it! I was told by my LO not to gain any new credit after the app though.
Thanks, happy! I appreciate your response.
I was in a similar position Jelly, but I spoke with my LO who told me I was able to be pre-approved without the refi.
Definitely speak with the lender first.
@Anonymous wrote:I was in a similar position Jelly, but I spoke with my LO who told me I was able to be pre-approved without the refi.
Definitely speak with the lender first.
Thanks a bunch!! I will do just that! I'll you guys know what happens!
Jelly
Ok. I called my LO and asked her about this situation. She said that I should wait. Thanks all for your input.
Wait until you talk to LO
We can simulate things in the software... so you may not need the extra dti room
Thanks Dallas!!
I spoke with her today. I am going to go ahead with pre-qualification. She said that I should know something tomorrow. I'll post the results when I get them from her. I faxed her my info today.
Ok, I just went for it!! Was approved for $165,000 with automated approval, but due to write offs on my taxes b/c of a side business, the underwriters have to look at it. I'll know something next week. I'll keep you posted.