virgozbest

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  • in reply to: Interest rate buy down #71476
    virgozbest
    Participant

    @Nelsont
    @Trimble
    Hello, can you explain to me the interest buy down please?
    How much is subtracted from the interest rate at 1% buy down and would that value double at 2% buy down of the interest rate, etc.
    Ex.. Purchase price is 300,000, seller gives 15k for buy down and buyer adds 2,000k. How much percentage would that be?
    Also is NACA,s purchase program calculator correct cuz I’m getting a different mortgage amount than my counselor. We are using the current interest rate of 2.65%
    Appreciate you

    in reply to: Non Priority Limitations and New Construction Property #69673
    virgozbest
    Participant

    Can someone help me in being able to pull ONLY the 99.99% median income zones, area’s in Prince George’s County Maryland? Finding properties on real estate sites, and house hunting is very frustrating because all the homes that are worth living in are over 99.99.
    Pulling up homes and then having to enter each address in the effiec.gov site only to find that the home is out of NACA’ non priority restrictions is also frustrating. I want to just pull up all the for sale homes in our county that the median income is 99.99 or below. Is that possible?

    in reply to: My Process: (New Construction) #69634
    virgozbest
    Participant

    @MDpeach22, were looking in Laurel, upper marlboro, bowie areas but no single family homes available and yes the ones they do have are ridiculously high or either out in Waldorf, or Ackokee…

    in reply to: My Process: (New Construction) #69632
    virgozbest
    Participant

    Yes it does, thanks, the message I wrote was actually intented for you so I appreciate your response.
    If you dont mind me asking, what area in MD I’d you find your new construction property. I am in the DMV area as well.

    in reply to: My Process: (New Construction) #69630
    virgozbest
    Participant

    My apologies Perhaps my question was confusing. My question is if there are new construction properties, which means there is no address to enter into the census demographic map, how is the median income % determined?

    in reply to: My Process: (New Construction) #69628
    virgozbest
    Participant

    @pearl609
    I just read your post about Dan Ryan in MD and I too am looking for new construction property but 1 of my issues is we’re Non Priority members so were limited to housing options (non priority member are members whose combined income fall between the median and/or higher income, which means we can only purchase homes in the priority areas. With that being said since Dan Ryan has new construction in MD do you know what their median income % is?

    in reply to: Not able to get in touch with counselor #69449
    virgozbest
    Participant

    @Ttrumble,
    Thanks for responding. We have attended the event twice. Our counselor initially told us to sign up for the event in May so we could get immediate approval, which we did. Our file came back with conditions from underwriting but no one contacted us letting us know the conditions. The 2nd time, our marriage license was needed and once we received it we uploaded it, weeks ago. We have not spoken to our counselor and waiting for re-submittion.
    I am in no way trying to bash NACA or my counselor. I am grateful for the program. I am now just looking for a way to get our file resubmitted because the ATD events are full for the next 2 mths and our counselor has been unavailable.

    in reply to: Just got Qualified #69374
    virgozbest
    Participant

    @Nelsont
    Thanks for your reply. Let me make sure I understand. Let’s say we requested a monthly mortgage of 3k a month and prior to our month to month lease we were paying 2,500 a month and had to do payment shocks of $500 a month (difference in 2500 and 3000). Now our lease is month to month and it increased to 3,000 a month AND we need a higher mortgage property of 3,500. Do we have to save any additional monies or does the $500 we were initially saving now count as the payment shock of the 3,500 we would like to increase to?

    in reply to: Just got Qualified #69365
    virgozbest
    Participant

    We just got qualified as well. Much lower than counselor said we qualified for based on what we told her we wanted our mortgage to be. What can we do to qualify for an increase of $300 monthly mortgage payment more than what we initially said since the max mortgage amount is much lower?
    2nd question..we were doing the payment shock but since were on a month to month lease we’re paying the monthly mortgage payment we requested. The money we’ve saved would it count towards the new $300 increase in monthly mortgage payments we would like to request?

    in reply to: Counseling Appointments #69295
    virgozbest
    Participant

    @ttrumble@naca.com
    Thanks for being a NACA vessel. We have been going through this process since October and our counselor informed us to go through the ATD event for immediate qualification. When we did that the counselor that called us(wonderful and patient lady) spent 3 hours with us uploading all our documents we uploaded on the webfile into NACA’s database. She even asked us why did our counselor tell us to attend the event when she could have entered our information herself. Nevertheless, after speaking with her we were ready for our file to be sent for qualification and that an underwriter would contact us within 24 hours. The underwriter never contacted us and when I called customer service days later, I was told that our file came back with conditions but customer service was not able to tell us what our conditions were. We initially had an appointment with our original counselor the day after the ATD event and she could have told us what our conditions were but she forgot she had an appointment with us. When I emailed her she told us to sign up for the ATD event again and scheduled an appointment for us for the end of June. Not understanding why she couldn’t tell us what our conditions were so that we could have them address for the next ATD event. So we signed up for the event again and this time the conditions were addressed except for NACA needed our marriage license. The counselor told me that once we received our marriage license to upload it and email it to our counselor and inform her to resubmit our file. So I did that 2 weeks ago and I have not heard anything from our counselor and our file is still in the “not qualified-condtions” state. Keeping in mind that we have not spoken with our counselor other than her missed appointment since the ATD event began. I understand that the counselors are working from home and they are working with their “for a lack of better words” old clients twice a week, but it appears to me based on NACA FB page that the ATD clients are getting more attention and more responses from counselors than those who have been in this process for awhile. Our counselor has yet to even reply to any of my emails about re-submitting our file to underwriting. What advise can you give those who are also facing this issue? Appreciate your time.

    in reply to: Not able to get in touch with counselor #69180
    virgozbest
    Participant

    The Achieve the Dream event has pulled all the MC until August. We’re in the same boat. They are tied up with this every weekend event. Not sure how they’re getting more clients when they’re over loaded with clients prior to this event. Those who started the journey several months ago have to take a back seat to those from these events.

    in reply to: Stuck in a MC Loop!! #69179
    virgozbest
    Participant

    We’re stuck in the same situation. Been on this road since October. Was told to go through the ATD event for immediate qualification. Did that, underwriting came back with conditions, but never contacted us. Had a meeting scheduled for after the event, counselor forgot. Had to register for event again just to find out our conditions. Satisfied the conditions and now have to wait 4 weeks before we speak with our MC to have our file resubmitted to underwriting. MC had overload with clients prior to event, now those who’ve been on this journey for almost a year have to take a back seat to the new case loads from these weekly ATD event. Hope things get moving soon. We’re on a month to month lease now.

Viewing 12 posts - 1 through 12 (of 12 total)