Lenders Approval of High Debt Ratio

Transcription

This is episode 14 of the Steven Tyler show on Steve Curry to.com and.com and I is is is is listening on Tyler Steve water we talking about today talking about how lenders approve people with high debt ratios of our, Tulsa mortgage loans oh goodness I get ahead of myself as excited to be here Alamosa mortgage bubble mortgage Farmington mortgage cars remortgage Columbia mortgage Tulsa mortgage loans Brian Neuwirth is here and he is our guest from Colorado Springs mortgage by what’s your favorite market to be in a Tulsa mortgage loans get glad that you are that we that answer’s bright Brian Cyr from our present Seo’s handlers say and the reason why Brian Cyr is so that we can part Not Really so Talking about What about Our Savior Publishing This Is Returning up Arguing Out Of Lenders Approve the Lord I Debt Ratios the Good Question Is a Possible I Think Sobriety We Put People at Either Issues Are Many Wanted to Maybe How We Do That Is Scary Well He Thinks Any Compensating Factors Can Be 10 like They Have besides Their High Debt Ratios They Have Some Other Compensating Factor That Compensates for TheirHigh Debt Ratios That Evening We Reserves the Colors Reserves about like a Job for Your Guests Are Enough Is As a Hideout for You Price Level and Elijah for Two Months Because of Change Jobs A Few Times but the Make Good Money Is Okay As I Compensate Fact That Is Something Going I Have a Little Lessor Talk about the, High Debt Ratios Are Just Saying I Have a Load Our Chauvinists of His Hide Their Shift to so If You Have High Debt Ratios What Arkansas Compensate Factors in My Time on the Job Stability Reserves Don’t Mind the Bank Down Payment Down Payment Tyler DownPayment Down Payment I Got a Bunch of Money down You That’s Okay to Your Money Is a Cashier Mattress Oklahoma Was HE MADE IT QUITE WELL WITHOUT ANY OR MAY NOT BE MONEY MADE OUTSIDE OF WORK BUT THE GOT’S INTERNET GAMBLING MONEY GAMBLING WINNINGS MAYBE SO SO IF WERE TALKING ABOUT LETTER COMPENSATE FACTORS RESERVES DOES IT MEAN I’M GUESSING THAT MUST BE WILLING TO KNOW WHAT WAS ARE YOU ARE TALKING ABOUT PEOPLE HAVING RESERVES IN THE BANK DON’T KNOW THAT MEANS IN THAN – MONEY SO RESERVES ARE, DOCTORS ARE MONEYLENDING IN THE LENGTH FIRST WAS THAT JUDAISM WAS INFERRED ABOUT HAVING MONEY IN THE BANK LIKE GOLD GOOD TO EXCELLENT ON THEIR LIKE A MICHAEL YOUR DOWN PAYMENT, AND THEY SAID GOLD OKAY SO DID YOU ARE EXCEL LATER NOT KNOW I CAN TAKE A PICTURE OF IT MICHAEL HARA PREACHERS MARKETING A PICTURE SUCH A STORY WHEN WE HAVE IDEA FOR STARS COUPLE YEARS AGO THERE IS A GEM AND HAD A HOUSE AND LET FORCE THAT HAD TAKEN HIS LIFE SAVINGS AND CALLED AND HAD CALLED IN THIS HOUSE THAT BROUGHT COMPLETELY TO THE GROUND NOW ONLY DID THEY EVER FIND IT OUT THEY GOT IT ALL LOW BECAUSE GOLD IS GOING AND IT WOULD MELT WAS IT HOT ENOUGH TO KNOW SOME OF IT WAS NOT JUST BUT STILL WHAT I PROVE IT WAS USING HIS HOUSE IS CORRECT SO I YOU KNOW HERE’S A THING IF THE END LIKE A RECEIPT THAT FOR YOUR GOAL THAT I GUESS THAT’S OKAY BUT TO TRY TO BUY A HOUSE AND YOU HAVE GOLD IN YOUR HOUSE YOU’RE NOT USING THAT FOR DOWN PAYMENT THAT BE CONSIDERED MATTRESS I IT’S VERY SIMILAR TO MATTRESS WITH THE PACIFIC LEAGUE OUT OF VANILLA BUT FOOTAGE THE BUTTON OF MY WATCH YOU IT DOESN’T THIS STATISTIC STOP I WAS THOSE THE STEP BUT SO WERE TALKING ABOUT IS ALL QUALIFIED PEOPLE HIGH DEBT RATIOS WERE RESERVES WERE
COMPENSATE FACTORS AND THEN ONE OF THE BIG PLANS UP AND IT WAS HARD JOB TIME AFFECTS YOUR QUALIFICATION IS IF YOUR DEBT RATIOS ARE LIKE 90% OUT CARE IF YOU KNOW YOUR COMFORT 25 YEARS) AT CORRECT DOLLARS ROSE JOB FOR 35 DAYS IN THAT IF HIS DEBT RATIOS ARE LONG AS 37 OF HIS DURATIONS ARE LOCKING AND QUALIFIED BUT IF YOU ARE BRILLIANT AFTER 37 YEARS THE HEAVENLY CRAZY HIGH DEBT RATIOS YOU’RE PROBABLY NOT GOING TO QUALIFIED SO JUST SO YOU KNOW ME MIGHT MILITATE CARBON BOXES YES AND HIM TO SOME REGRETS SO DON’T BE OFFENDED SO – IS NOT SO WOULD YOU RATHER LENDER SOMEONE WHO HAS HAD FIVE DOLLARS LAST TWO YEARS THAT A HIGH DPI AND NOBODY IN THE BANK FOR SOMEONE WITH HIGH DEBT RATIOS AND THE SAME JOB FOR 12 YEARS MAYBE THEY DON’T HAVE A MONEY THE BANK MAYBE THEY DON’T HAVE RESERVES NECESSARILY MAYBE THEY’RE GOING TO GET FOR DOWN PAYMENT BUT THE DOLLAR JOB FOR 12 YEARS AND THEIR WISHES ARE HIGH VERSUS FIVE JOBS LAST TWO YEARS ALSO HIGH DEBT RATIO AND NOTED THE MOVEMENT WAS TO CREDIT SCORES LOOK LIKE WHO HE THREW A KICK OUT OF THEIR SIMILAR 06 OF YOUR LETS SAY THERE ARE DECENT LEARNED 600 POSTS IN THE MID-SIX HEALTH ON THE OTHER BOTH SIMILAR AND THEIR CREDIT SCORE LIKE A RANGE WE TALKING A DESPERATE PHONE HERE AND THEY’VE BEEN APPROVED THROUGH THE AUTOMATED AND DRINK SYSTEM TALKED ABOUT THE PREVIOUS PODCAST 0701 AND THAT WHICH ONE WOULD YOU BE MORE COMFORTABLE WITH THE SECOND SCENARIO HAS LESS RISK HOWEVER IF IT’S IN A WHISPER LOAN AND I COMPILED A LIST OF DO. WELL I’M VERY PROUD OF OUR PRESENT SEO FOR THAT THAT’S WHY AM I MASTERS STUPID COMMISSION AS WE” IS ABOUT CLOSING THOSE THOSE WHO PAID THE FIVE JOBS ARE ALL INCREASING AND SALARY LABORIOUS WHEN IT’S EVEN BETTER LABORIOUS RATES EVEN BETTER CORRECT IS EVEN BETTER SO THAT’S IT THAT’S A GOOD QUESTION ON WHAT WE COVERED THAT BECAUSE I WOULD NOT ONLY GOT FIVE JOBS MIGHT NOT LIKE THE NOTES LIKE I CAN THINK OF WHAT I THINK I WANT TO WORK FOR ACCOMPANYING Promoted 5×5 DIFFERENT JOBS IN THE SAME COMPANY FLY DIFFERENT JOBS BUT YOUR TELL ME WANT FORM THAT I WOULD NOW MR. PRES. I WOULD I WOULD SEND IT TO YOU AND LET YOU APPROVE IT ABSOLUTELY THEY CAN’T THANK YOU VERY MUCH OF THE AUTHORS SO BUT THE OTHER STATISTICALLY TALKED ABOUT TYLER EARLIER PUT TOGETHER ARE OUR NUMBERS WAS WHAT YOU THINK THE PERCENTAGE OF PEOPLE WHO USE DEFENSE FOR DOWN PAYMENT AND HOW DOES THAT AFFECT HAVING A HIGH BTX 70 IS GETTING A DIFFERENT PAYMENT SOMETIMES PEOPLE WILL QUALIFY WITH THEIR OWN DOWN PAYMENT BUT NOT IF THEY ARE GETTING A GIFT SOAP WE TALKED WITH THAT OF AUTOMATED OVER A PROLONGED YOU KNOW THAT SOMETIMES IF YOU CHANGE THE DOWN PAYMENT SOURCE FROM OWN FUNDS AND CHECKING OR SAVINGS TO GIFTS THAT IS THE DIFFERENCE BETWEEN SOMEONE GETTING AN APPROVAL AS WELL THROUGH A MESA STOP UNDERWRITER OR GETTING A REFERRAL CORRECT IN YOUR TWO SCENARIOS ABOVE IF THEY WERE BOTH MANUAL UNDERWRITES WOULD TAKE NUMBER 21 OKAY SO SOMEBODY WHO HAS FIVE JOBS, OURS IS JUST UNTIL KYLE I’M LOOKING AT YOU RIGHT NOW FIVE
DIFFERENT JOBS BUT HE DOES SAY SOMETHING, OR FROM TIME’S TIME TO REFINANCE THIS IS HAPPENING ON.COM YOU ANYMORE JUST GETTING ON A CALL YOU MORE SO BEEN TALKING ABOUT A REFUND BUT IT NEEDS MAKE SENSE AND I THINK IT IS NOT SO WHEN YOU DON’T HAVE AN AUTOMATED APPROVAL CORRECT AND YOU HAVE FIVE JOBS THEN YOU BE MORE LIKELY TO APPROVE SOMEONE WHO HAS THE SAME JOB FOR 12 YOU STABILITY CORRECT BECAUSE OF THE STABILITY THAT I SENT SO THAT THE MERE HAVING OF TYLER YAWNING IN THE MIDDLE OF YOUR PODCAST WOULDN’T LIKE DIMINISH OF THE MIRROR NOT HAVING YOUR OWN DOWN PAYMENT IS A NECESSARY A PROBLEM UNLESS YOU DON’T GET AN APPROVAL TO THE AUTOMATED WELL IT’S IT’S HYPOTHETICALLY IT’S ALWAYS A PROBLEM IF YOU HAVE YOUR OWN MONEY IT IT IT SAID WOULD YOU CALL A NON-COMPENSATING FACTOR RIGHT CORRECT IT’S LIKE LAYER OF RISK HAS CORRECT CASE SO I HAVE A FIVE AT FIVE DIFFERENT JOBS IN TWO YEARS HIGH DEBT RATIO NO MONEY IN THE BANK AND ALLOW YOU HAVE ANY MONEY DOWN EITHER SO IT WOULD BE A LAYERED OF RISK THAT IS UNACCEPTABLE RIGHT TYLER ANYTHING ABOUT TIGER YOU WHAT MONEY IS WHAT IF YOU HAD TO CLOSE ALONE AND IF YOU CLOSE ON MONDAY I WANT EVERYONE TO GO ON EVERYONE ON THE PLANET I WANT THE UN DOESN’T EVEN KNOW IN PEOPLE IN AUSTRALIA WHILE THE AUSSIES NEED TO THEY DO ONLY LOANS IN AUSTRALIA OH MY BAD UN NUANCE IN TULSA TULSA MORTGAGE” CARS FARMINGTON MORTGAGE IS SO BUT YOU WHAT YOU WANT IT LIKE AND HATE WHAT WE ALL WANT TO PROVE EVERYBODY TO EXAMINE DON’T WANT TO CALL SOMEBODY AND SAY HEY YOU DENIED BY THE STORES CALL TO MAKE PRINCES AND SOURCE CODE MAKE IT IS THE WORST WE WERE MCNICHOLS AND CALL HAPPY CUSTOMERS THE COULD CAUSE YOUR APPROVED SO LET’S TALK ABOUT STORY TOP AND SO WERE TALKING ABOUT THIS THE WILL ACTUALLY BE JUST AS THIS CUSTOMER LITERALLY BRIAN AND BOWIE WE PROVEN TO CLOSE THE MOTHER WAS A GOOD DEAL BUT WE HAVE SOMEONE HAS BAD CREDIT THEY ARE HIGH DEBT RATIO BUT THEY HAVE 10% DOWN AND THE 12 MONTHS WITH MORTGAGE PAYMENTS OR WE CALL RESERVES IN THE BACK WHILE THEY ARE BETTER RISK THAN SOMEONE WITH LOW DPI GETTING A GIFT FOR DOWN PAYMENT AND NO RESERVES WHICH IS CALLED IN ECONOMICS ASKING WHAT WOULD YOU SAY I HAVE 10% DOWN A BAD CREDIT BUT I’VE 12 MONTHS TRENDS IN THE BANK IS THAT BETTER THAN SOMEONE WHO HAS YOU A LOWER DTI THEY HAVE LINKED A GIFT FOR THE NONPAYMENT AND NO RESERVES IS THAT, I THINK IT’S KIND OF A EQUALITY IMMEDIATELY YOU CAN’T BASE ALONE OFF OF THEIR DTI YOU CAN’T BASE ALONE OFF HOW MUCH MINOR BUTTON-DOWN YOU CAN BASE OF WHAT THEY HAVE IN THE BANK YOU HAVE TO LOOK AT WHAT THEIR CREDIT PROFILE LOOKS LIKE OVER THE LAST 24 MONTHS AND HOW THEY PAY THEIR BILLS YOU KNOW BE THE BIGGEST INDICATOR IS THE CREDIT SCORE THAT’S WHY THERE IS SUCH A THING AS A CREDIT SCORE AS TO HOW THEY’RE GOING TO PAY AND THE STARTLING FACT IS THAT THE MORTGAGE WILL PERFORM LIKE THE PRIMARY WAGE EARNER OR DEPRIVE THE MAKES THE MOST MONEY THEIR CREDIT SCORE SO IF THE GUY THAT MAKES THE MOST MONEY IS TO HUSBAND HE’S GOT 585: THE WIFE HAS NO INCUMBENT 720 LOANS MORE
LIKELY TO PERFORM AT 58 GOTCHA ENEMIES ABLE TO PERFORM THAT MEANS HOW TO MAKE THEIR PRESENCE ARE SAYING*SO PERIODICALLY ARE LOOKING AT YOUR SCENARIO WHERE YOU GOT A BAR WITH HIGH DTI 10% DOWN 12 MONTHS RESERVES VERSUS A BAR WITH MAYBE A LOW DPI LOWDOWN THAT NO MONEY DOWN AND NO RESERVES YOU YOU HAVE TO LOOK AT THE CREDIT WORTH OF THE BORROWER HOW THEY BOTH PAY THEIR BILLS HOW THEY DO THINGS I THINK IF YOU LOOK AT IT FROM A QUALITY IT THE RISK IS THERE FOR BOTH LOTS UNIQUE RS WITH HIGH DTI VIOLONCELLO DTI BUT THAT WHAT HAS NO MONEY SO THERE’S RISK WITH NO MONEY NO RESERVES WHERE THE OTHER ONE HAS MONEY RESERVE SO IT’S IT’S NOT EVER A CUT AND DRY EVERY SITUATION IS A UNIQUE SITUATION AND THAT’S WHY YOU DON’T JUST COME ALONG UNDER BY THE WAY IF YOU’VE BEEN SHOT DOWN BY SOME LENDER AND YOU JUST THINK THAT’S IN THE WORLD FOR YOU YOU NEED TO CALL ANOTHER WONDER BECAUSE BRIAN JUST MADE THE POINT THAT THEY ARE THE IT IS SUBJECTIVE TO WHOSE REVIEWING IT AND WALLS SOMEONE MIGHT BE MORE CONSERVATIVE AND SAY NO TO APPROVE THE LOAN NUMBER BE SOMEBODY THAT SAYS WE CAN GET YOU THE TIMES HAVE YOU GOT ALONEFROM A BORROWER WHO WENT TO THE LOCAL BANK WHO DOES THE COOKIE-CUTTER LOANS DON’T THINK OUTSIDE THE BOX AND THEY BEEN TURNED DOWN ONLY TO COMMUNICATE HOME HAPPENS ON MOUNTAINTOPS YOU HAVEN’T. SO IF YOU’VE BEEN TURNED DOWN JUST KNOW THAT IF YOU’RE IN ANY ONE OF THE SCENARIOS UNIQUE ARTICLES YOU NEED TO GET TULSA MORTGAGE loans DEALS THE tulsa MORTGAGE loans COM PTOLEMY CONCEPTS ARE CALLED JACK, IS ON THE LIVE FEED ON FACEBOOK HILGER AREA SO LISTEN I THINK TERRITORY This THIS PODCAST WHICH I DON’T EVEN KNOW TYLER HOW LONG WE BEEN PODCASTING I THINK WE@TIMEKEEPER.COM OR 16 MINUTES IN THE LATINO BASEMENT THREE You KNOW I DON’T THINK THAT PEOPLE NEED TO NECESSARILY UNDERSTAND WHAT COMPENSATING FACTORS ON RESERVES ARE OUT OF JOB TIME AFFECTS THEIR QUALIFICATION BUT JUST UNDERSTAND THAT IF YOU’VE BEEN SHOT DOWN BY ONE LENDER THAT YOU’VE ENTIRELY DON’T QUALIFIED THAN TALK TO OTHER LENDER AND WE LISTEN YOU JUST WANT MAKE SURE THAT YOU UNDERSTAND THE FACTORS THAT AFFECT YOUR MENTAL AND HERE’S TO THINK THIS IS NOMINALLY DO THIS IS LIKE NIGHT THAT’S LIKE MONEY RIGHT HERE DON’T HIDE STUFF FROM YOUR LENDER TELL ME EVERYTHING YOU GET LIKE SOME CASH IN THE BANK TELL ME YOU YOU LIKE A 401(K) WITH 1 MILLION BUCKS IN IT THAT’S KIND GET THEY TELL ME THE, CHANGE YOUR APPROVAL PRIOR US OUT OF A HIGH DEBT RATIO ABUNDANT PERCENT DOWN AND I HAVE 30 YEARS IN RESEARCH YOU’RE PROBABLY COULD DO THAT YOU SO DON’T HANG ON TO SOME BANK ACCOUNT BALANCE OR SOME 401(K) WHERE SOME SOMETHING OR OTHER THAT YOU DON’T MAYBE THINK THAT WE CARE ABOUT JUST GIVE US ALL THAT INFORMATION UP FRONT BECAUSE IF YOU FORGET GIVE IT TO US LATER BECAUSE THAT’S ALL HELP YOU GET QUALIFIED SO IT WOULD UPSET THE REPS OF 14 AND TULSA MORTGAGE loans SO THANKS FOR LISTENING FOLKS AND WE WILL SEE YOU NEXT TIME

Total Lending Concepts is a DBA of Midwest Mortgage Associates Corp. Midwest Mortgage Assoc. Corp. funds FHA, VA, Conventional, and USDA Guaranteed (Rural Development) mortgage loans. NMLS # 1043976. Colorado License #1043976, Missouri # 13-2126-A, Kansas License # MC.0025239, Missouri License # 1043976, Oklahoma License # ML010869, New Mexico License # 1043976. Not all Mortgage Loan Originators are licensed in all the states where MWMA is licensed. Some loan types are NOT available in every state. Call or check with an authorized Mortgage Loan Originator for program availability in your state. *"NMLS" refers to "Nationwide Mortgage Licensing System".