No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Looking to purchase a rent house through Dr Horton Mortgage in Louisiana. Income is around $185,000 and my scores range form 710 to 740. Have a couple derog marks from 2018 & 2019 but that's it.
Utilization will be at 0% when I apply.
Only other debt is my auto loan @ $850 a month.
Also considering an Escalade Lease which would be $1400 a month but I would most likely wait until after I closed.
Purchase Price is $205,000
Would like to put $20,000 down.
What do you all think my experience will be like? I'm self employed so how will that go with them?
What are yalls thoughts?
@djromo wrote:Looking to purchase a rent house through Dr Horton Mortgage in Louisiana. Income is around $185,000 and my scores range form 710 to 740. Have a couple derog marks from 2018 & 2019 but that's it.
Utilization will be at 0% when I apply.
Only other debt is my auto loan @ $850 a month.
Also considering an Escalade Lease which would be $1400 a month but I would most likely wait until after I closed.
Purchase Price is $205,000
Would like to put $20,000 down.
What do you all think my experience will be like? I'm self employed so how will that go with them?
What are yalls thoughts?
My personal experience with DHI Mortgage was that their overall costs were high compared to nearly everywhere else I checked. Origination, interest / apr, etc. However, in my case that was for what would be an owner-occupied home (standard mortgage) and not an investment home (build to rent). Investment property mortgages work quite differently so hopefully others will chime in...
I am closing on a DR Horton house next month, and my experience with DHI mortgage was not good. Of course after signing the contract the DRH sales rep setup the phone call to DHI Mtg. The big hook was a " fabulous $4000 credit" for using DHI Mtg. As it turns out the $4000 lender credit would have cost me many x more in bogus add on fees and high origination fees. When questioning this the DHI rep basically said this is the program, take it or leave it. When I called back to say I had a better deal elsewhere, the rep hung up on me. My local lender gave me full lender credits for closing cost, 3.25% FHA/30, and a reasonable $900 origination fee.
Very high. Find a local broker and use a mortgage advertising website to gauge rates/points for your situation.
@djromo wrote:Looking to purchase a rent house through Dr Horton Mortgage in Louisiana. Income is around $185,000 and my scores range form 710 to 740. Have a couple derog marks from 2018 & 2019 but that's it.
Utilization will be at 0% when I apply.
Only other debt is my auto loan @ $850 a month.
Also considering an Escalade Lease which would be $1400 a month but I would most likely wait until after I closed.
Purchase Price is $205,000
Would like to put $20,000 down.
What do you all think my experience will be like? I'm self employed so how will that go with them?
What are yalls thoughts?
You'll have to put at least 20% down because you're buying an investment property.
DR Horton rates are high and their total money needed is high.
Use another lender to drive them way down. DR horton came down a lot, went from 19K total cost out of pocket, to 2200 out of pocket. I used navy federal to drive them down. They scrambld to keep me under their fold.