topic Re: Tri Pointe Connect in Mortgage Loans

Tri Pointe Connect

nykos5000 — Thu, 17 Oct 2019 03:58:52 GMT

I just wanted to share my experience with Tri Pointe Connect (Preferred lender for Tri Pointe Homes, Pardee, Trendmaker, Etc). I am already prequalified at both a Lennar property (Eagle Home Mortgage) and a Brookfield property (Loan Depot) here in Southern California but Tri Pointe recently released new townhomes for a steal. I was all for more square footage, bedrooms, bathrooms, for a lower price. Decided to prequal but came back with a rejection with my current debt to income ratio. I already knew I came in at 51% due to FHA guidelines considering 10% of my total student loan debt rather than my actual monthly payment plus my extra car loan for my work car, which is actually paid for by my employer, although, it is in my name. They have FHA overlays that come in at a max of 50% back end debt to income as the max is normally 54%. Both Eagle Home and Loan Depot were able to get me a preapproval at 51%. They mentioned me being able to get a pre approval at 3.99% if I sell my personal vehicle but I didnt want to take that option just yet. Just an FYI for anyone who is looking at Tri Pointe Group's preferred lender.

Re: Tri Pointe Connect

Mortgage-Specialist — Thu, 17 Oct 2019 17:37:39 GMT

I find it odd that paying off your vehicle would effect your interest rate. Is your mid credit score under 640?

Re: Tri Pointe Connect

nykos5000 — Thu, 17 Oct 2019 22:09:04 GMT

Paying off one of the cars would affect just my DTI, not the interest rate. My mortgage enhanced middle score is 672.

Re: Tri Pointe Connect

Anonymous — Sun, 04 Oct 2020 05:20:36 GMT

Just following up. Did you go with Tri? I'm thinking about doing a pre-approval with them.

Re: Tri Pointe Connect

nykos5000 — Sun, 04 Oct 2020 09:05:59 GMT

@Anonymous wrote:
Just following up. Did you go with Tri? I'm thinking about doing a pre-approval with them.

I did end up going with TriPointe Connect. I sold my 2nd car to Carvana to lower my DTI as I closed when COVID became a thing and most mortgage overlays got a bit more strict. The second time around, I got a different loan officer who was a gem to work with. He made the process so much better and I was able to close on time with a 2.875% rate. Because my loan officer was so great to work with, I highly recommend TriPointe Connect.

Re: Tri Pointe Connect

Anonymous — Tue, 06 Oct 2020 08:07:32 GMT

I'm in Florida, does that matter? In other words, are they national lenders?

Re: Tri Pointe Connect

nykos5000 — Tue, 06 Oct 2020 18:37:39 GMT

I believe TriPointe Connect works as the in house lender for only Tri Pointe Group brands. TriPointe Homes, Quadrant, Pardee, Maracay, Trendmaker, and Winchester are all part of the TriPointe Group. However, TriPointe Connect is actually just a mortgage broker through Loan Depot. I believe Loan Depot is national and they are overall pretty good to work with.

Re: Tri Pointe Connect

Anonymous — Mon, 09 Nov 2020 04:14:38 GMT

Will tri pointe connect accept a 10% down payment?

Re: Tri Pointe Connect

nykos5000 — Mon, 09 Nov 2020 05:55:40 GMT

I'm sure you're able to for a conventional loan

Re: Tri Pointe Connect

Anonymous — Mon, 09 Nov 2020 06:06:12 GMT

Yea but we were told we need to use their financing company in order to get on the priority list. Basically only priority list people would be able to get the homes. This is in the chino hills area.

Re: Tri Pointe Connect

nykos5000 — Mon, 09 Nov 2020 06:59:30 GMT

Would the community happen to be Hazel & Ivy? If so, the sales team, Joe, Giuliana, and Shane are pretty awesome to work with. You would need to prequalify with TriPointe Connect to get on their priority list. This is only to pre qualify. Once your home is about 60 days before closing, you can bring your own Mortgage lender of your choosing. Though, you will forfit the $5k incentive from the builder but I think they may still offer the free HOA for a year.

Re: Tri Pointe Connect

Anonymous — Mon, 09 Nov 2020 07:13:34 GMT

It is the Hazel & Ivy, we're also looking into "The Landing". If we try to prequalify for each of them will it be two hard checks?

How is the financing thru these lenders? We only plan to put 10%. Will the interest rate be much higher?

Re: Tri Pointe Connect

nykos5000 — Mon, 09 Nov 2020 07:39:57 GMT

Very nice. I am also very familiar with The Landings Lol. The sales rep at Waypoint at the Landings, Sophie, is also really awesome to work with. Yes, TriPointe Connect and Lennar's in house lender, Eagle Home, will both do a hard pull on all three credit bureaus. Brian who is Eagle Home's dedicated loan officer for the Landings is also really good to work with. There are other loan officers with Eagle who aren't so easy to work with. Overall, both lenders seem eager to get you qualified as they do have incentives with the builders to get as many homes as possible sold. Going conventional with both Eagle and Tri Pointe with 10% down should get you in under 3% for 30 years with these crazy low rates we are seeing right now. Of course, this depenends on your overall credit profile and DTI.

Re: Tri Pointe Connect

Anonymous — Mon, 09 Nov 2020 08:35:23 GMT

We had gone thru a approval letter process a few months back. I was told that if we were to get similar checks within a few weeks it wouldn't effect our credit score with the multiple hard checks, almost like a grace period. Is this prequalification similar, where if we were to get prequalified from hazel/ivy would we get a grace period of hard checks for the landing?

Re: Tri Pointe Connect

nykos5000 — Mon, 09 Nov 2020 17:25:40 GMT

@Anonymous wrote:
We had gone thru a approval letter process a few months back. I was told that if we were to get similar checks within a few weeks it wouldn't effect our credit score with the multiple hard checks, almost like a grace period. Is this prequalification similar, where if we were to get prequalified from hazel/ivy would we get a grace period of hard checks for the landing?

That is correct. Multiple mortgage inquiries would count as one inquiry if they're pulled around the same time. I have heard the time frame varies depending on the credit scoring model used but it is usually 15-45 days.

Re: Tri Pointe Connect

Anonymous — Thu, 12 Nov 2020 04:43:49 GMT

so now we're worried we won't qualify for the prequalificstion. currently have a 760 Fico score with 33k so far for down payment. The home we're looking for is at The Ivy/Hazel for about 430k. What are our chances to prequalify?

Re: Tri Pointe Connect

Anonymous — Thu, 12 Nov 2020 12:01:48 GMT

@Anonymous is that your mortgage fico 5,4,2 score?

Re: Tri Pointe Connect

Anonymous — Thu, 12 Nov 2020 16:08:20 GMT

its my fico 8 score.

Re: Tri Pointe Connect

Anonymous — Thu, 12 Nov 2020 17:34:09 GMT

You need to know your mortgage fico scores. They don't look at Fico 8. I don't know who uses Fico 8.

Re: Tri Pointe Connect

Anonymous — Thu, 12 Nov 2020 18:39:43 GMT

Hrmm. What's the best way to get my mortgage fico? When I had gotten the qualification letter from chase 4 months ago they had said my fico was at 780 at the time