purdynerdy

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Viewing 12 posts - 166 through 177 (of 177 total)
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  • in reply to: NACA interest rates higher than traditonal #66148
    purdynerdy
    Participant

    So not only are we now limited in purchasing power by the interest rate, but housing prices (at least in DMV) will continue to rise due to buyers flooding the market with lower interest rate mortgages.

    I’m so discouraged.

    in reply to: NACA interest rates higher than traditonal #66143
    purdynerdy
    Participant

    Wow. I guess I’ll have to put a pause on home searching and reassess. I live in the DMV and this drastically changes what I can afford now.

    Just last week it was 3%. I know NACA is still the best option considering no PMI.

    • This reply was modified 1 year, 9 months ago by purdynerdy.
    in reply to: NACA interest rates higher than traditonal #66095
    purdynerdy
    Participant

    I asked my MC/loan officer and she has no clue why it’s higher.

    I understand that it’s less than it was a year ago, but I would be pissed if I get a higher erroneous interest rate.

    in reply to: NACA interest rates higher than traditonal #66091
    purdynerdy
    Participant

    Definitely would like to see an update on this.

    NACA Mortgage rates are even higher today, when national rates are at their lowest. It concerns me that people are actually getting this rate on their contract when it’s supposed to be a technical error.

    in reply to: Monthly Gross Calculation #65562
    purdynerdy
    Participant

    Oh….because mine wasn’t. 🙁

    My MC used just 2 checks and claimed that NACA prefer to go with the lowest number to be safe. It’s a difference of nearly $200 in my PITI.

    in reply to: Question about Bank Statement Periods and Payment Shock #65223
    purdynerdy
    Participant

    Ok. I’m not going to worry about it.

    My budget is on point (no overdraws), I save more than my shock every month and I accumulate no new debt. My savings account reflect an increase, but my checking is always a snapshot. Some statements, my paycheck just deposited and no bills have come out yet. On other statements, I just paid all my bills and saved my shock, and my checking balance looks lower.

    I just hope the persons reviewing my file at credit access and beyond understands this.

    in reply to: 0.5% BOA Grant #64284
    purdynerdy
    Participant

    OK. That’s good. Hopefully that 1% comes back soon lol.

    in reply to: Numbers on Qualification Letter are different #64015
    purdynerdy
    Participant

    Ok. I will do that. I live int he DMV and need a little more buying power. Plus I don’t think it’ll change my MRF as I will still be less than 300$ shock payment (And I’ve been saving way over that).

    Also, would I need another credit pull. The last one was 12/3/2019. I’m worried about the hard hits.

    It’s a 150$ difference. The previous amount was 31% of my gross and my income has not dropped.

    • This reply was modified 1 year, 11 months ago by purdynerdy.
    in reply to: Numbers on Qualification Letter are different #64012
    purdynerdy
    Participant

    What is the process for resubmission? Do I need to submit new documents?

    in reply to: 401k Funds for Interst Buydown #63963
    purdynerdy
    Participant

    Thank you all for your responses. I plan on speaking both the plan administrator and a financial adviser.

    in reply to: Lender Status Application?? #63804
    purdynerdy
    Participant

    I know. I’m going next Thursday. I just wanted to make sure I got through underwriting. My web-file wasn’t showing it accurately. In fact, it still says “Lender Status: Application” when I’m not at that step.

    in reply to: Lender Status Application?? #63783
    purdynerdy
    Participant

    Thank you. I ended up calling the Mortgage Department. I’m NACA qualified. The status was an error. I’m good to check out homes :).

Viewing 12 posts - 166 through 177 (of 177 total)