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Old 10-06-2009, 12:32 PM
 
141 posts, read 633,962 times
Reputation: 97

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We are trying to purchase a home that was supposed to close on 10/1. The underwriter has come back 3 separate times with several contingencies and every time we give them what they want. Now they decided to only look at my husbands’ income for 2007 which is the year he made the least amount of money and puts us in a much higher dept to income ratio. But if they were to take the after of the last 3 years he has worked for the company then we would be well below the 55% dept to income ratio. It seams like the bank is doing everything they can not to let us buy this house. Is it time to find a new bank? Can we find a new bank? Who would you recommend? Any advice would be very helpful during this stressful time. We were stupid and believed out mortgage broker that we would be in the clear after the inspection and went a head and have already purchased cabinets, countertops, and appliances (all waiting for our closing date for delivery.)
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Old 10-06-2009, 02:07 PM
 
Location: Hoosierville
17,342 posts, read 14,606,875 times
Reputation: 11574
Just curious, is it a local broker?

You can definitely change BUT the entire loan process starts all over again.

What does your agent say about this?
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Old 10-06-2009, 02:47 PM
 
141 posts, read 633,962 times
Reputation: 97
Crazy as it sounds, only a few hours after I talk to my agent about changing banks we get a clear to close!!! We find out later today if we close on Thurs or Friday!
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Old 10-14-2009, 11:09 PM
 
5,696 posts, read 19,135,794 times
Reputation: 8699
Quote:
Originally Posted by MandyBlue View Post
Crazy as it sounds, only a few hours after I talk to my agent about changing banks we get a clear to close!!! We find out later today if we close on Thurs or Friday!
This doesnt surprise me. Our home purchase was a nightmare. We had all kinds of ups and downs during underwriting. We showed up for closing only to be told the paperwork wasnt done! When we did show up for closing (the 2nd one), I wasnt a believer until I got the keys. Good luck and I wish you much happiness in your new home!
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