Lawyer George
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There are no set maximum front-end and back-end debt-to-income ratio on jumbo loans. Jumbo loans are non-conforming loans and do not have a standard uniform agency guidelines like government and conventional loans. Jumbo loans are portfolio loans and the guidelines are set by each portfolio lender who is originating and funding the jumbo loan. Non-QM wholesale lenders can extend the debt-to-income ratio to a 50% debt-to-income ratio. In this post we will talk about the general guidelines by most traditional and non-QM jumbo lenders when it comes to the maximum debt-to-income ratio. The maximum debt-to-income (DTI) ratio requirements for jumbo loans tend to be stricter than conforming loans, as jumbo loans represent a higher risk for lenders. Here are some typical DTI guidelines for jumbo loan approval:
Front-End DTI Ratio: This measures your monthly housing costs (mortgage payment, taxes, insurance, etc.) against your gross monthly income.
- Maximum front-end DTI is usually capped at around 28-33% for jumbo loans.
Again, the front-end debt-to-income ratio on jumbo loans depends upon the wholesale lender.
Back-End DTI Ratio: This measures your total monthly debt obligations (housing costs plus other debts like credit cards, loans, etc.) against gross monthly income.
- Maximum back-end DTI for jumbo loans is typically around 36-43%.
However, the specific DTI limits can vary by lender and are dependent on factors like:
- Credit score
- Down payment amount
- Loan amount
- Liquid assets/reserves
Borrowers with higher credit scores, larger down payments, more reserves, and lower loan amounts may qualify with slightly higher maximum DTIs in the 38-45% range for back-end ratios.
Some jumbo loan programs allow DTIs to reach 49.99% for very well-qualified borrowers in certain cases.
However, keeping your DTIs under 36% for the back-end ratio generally provides the best chances for jumbo loan approval with most lenders. Low debt ratios are crucial when seeking a larger, non-conforming jumbo mortgage.
https://gustancho.com/jumbo-mortgages/
gustancho.com
Jumbo Mortgages | 2022 Lender Options - LTV - Rates - Terms
Gustan Cho Associates offers traditional jumbo mortgages with 90% LTV with up to 50% DTI and a 660 FICO at low rates and no PMI
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Nobody can get into the mind of serial police impersonators like Serial Cop Wanna Be Jeremy DeWitte. People that impersonate cops like Jeremy DeWitte do so because they want power. Police impersonators want to be somebody but do not want to go through the process of takng the traditional steps and process it takes to become an authoritive figure where you command the authority to arrest people who violate the law and the power to be able to tell people what to do. Police impersonators like the fact police officers have qualified immunity and yield the power to arrest and police officers have the discretion even to arrest higher ranking police officers, the mayor, Congressmen, and even the governor. Police officers have the power to even arrest the President of the United States. There can be several reasons why some individuals persistently impersonate police officers, despite the serious legal consequences:
- Power and authority: Some impersonators crave the power, respect, and authority that comes with being perceived as a law enforcement officer. They may have a desire for control or a need to feel important.
- Attention and recognition: Impersonating an officer can give some individuals a sense of recognition and admiration that they may lack in their personal lives. The attention and perceived status can be appealing.
- Thrill-seeking and adrenaline: For some, the act of impersonating an officer and getting away with it can provide an adrenaline rush and a sense of excitement or accomplishment.
- Mental health issues: In some cases, individuals who repeatedly impersonate officers may have underlying mental health conditions, such as delusions or personality disorders, that contribute to their behavior.
- Criminal intent: Some impersonators may use the perceived authority of a police officer to commit crimes, such as extortion, theft, or other illegal activities, for personal gain.
- Obsession or fixation: For certain individuals, the obsession with law enforcement or the idea of being an officer can become an unhealthy fixation that drives their repeated impersonation attempts.
- Lack of consequences: If an impersonator has faced minimal consequences or has been able to avoid significant punishment in the past, it may encourage them to continue the behavior.
It’s important to note that impersonating a police officer is a serious crime that can carry severe legal penalties, including fines and imprisonment. Individuals who repeatedly engage in this behavior may require psychological evaluation and treatment, in addition to facing criminal charges.
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Frequently asked questions from homebuyers, homeowners, and realtor partners is how are the mortgage rates on jumbo loans compared to government backed loans and conventional loans. Jumbo loan mortgage rates are typically higher compared to government-backed loans like FHA and VA loans, as well as conventional conforming loans. Here’s a more detailed comparison: Jumbo Loans vs Government-Backed Loans: Government loans like FHA and VA carry lower mortgage rates because they are insured by the federal government, lowering the lender’s risk. Jumbo loans have no government guarantee, so lenders view them as riskier, resulting in higher interest rates. The mortgage rate difference can be 0.25% to 0.50% higher for a jumbo loan compared to FHA or VA.
Jumbo Loans vs Conventional Conforming Loans: Conventional conforming loans meet the loan limits set by Fannie Mae and Freddie Mac (up to $776,550 in most counties). Jumbo loans exceed these limits, up to multimillion-dollar amounts. Conforming loans typically have lower rates than jumbo loans since they can be acquired by Fannie/Freddie. The rate difference is usually around 0.25% higher for a jumbo loan versus a conforming loan. The exact jumbo loan rate can vary significantly by lender and the borrower’s qualifications like credit score, down payment, and income documentation. But in general, jumbo borrowers can expect a rate premium of around 0.25% to 0.50% above conforming and government-backed mortgage rates due to the higher risk for lenders.
https://www.youtube.com/watch?v=Z_pTTWmj53E
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This reply was modified 8 months, 1 week ago by George.
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This reply was modified 8 months, 1 week ago by
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This is hilarious but not funny. We don’t want the world we have an idiot for a President. Joe Biden sets the record of all time for ruining the United States in just four short years.
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Silver and Gold prices are holding strong. Will Silver price hit $100 per ounce? Silver and Gold prices skyrocketed skyrocketed this week and is still holding strong. Gold prices are at $2,460 per ounce and Silver prices are $28.20 cents per ounce. Watch this video. We are in a bull market for Silver and Gold.
https://www.youtube.com/live/hRFjwfy9vso?si=RR112wL6sMB25J55
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China is loading up in Gold and Silver. Gold prices have been going up for the two weeks with no sign of correction. Normally Gold and Silver prices increase when interest rates is forecasted to drop. Gold and silver have been skyrocketing hitting year highs. Here’s an informative article on Yahoo News.
https://finance.yahoo.com/news/why-gold-prices-record-highs-180132384.html
From central banks to Costco customers, it seems everyone is buying gold these days.
finance.yahoo.com
Why gold prices are at record highs
From central banks to Costco customers, it seems everyone is buying gold these days.
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Mat Grella was the co-founder of NEXA MORTGAGE and 50% owner. I think there is more to the story than what we are hearing from the media. No doubt that CEO Mike Kortas runs the show and is the apha leader but how can a founder fire a co-founder
https://www.mpamag.com/us/news/general/nexa-co-founder-terminated/483111
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A timeshare foreclosure is an installment debt and not real estate or property. There are no waiting period guidelines after a timeshare foreclosure to qualify for government and conventional loans. Getting approved for a mortgage after a timeshare foreclosure can be challenging, but it’s not impossible. Here are some steps you can take to improve your chances:
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Rebuild Your Credit Score: A foreclosure can significantly damage your credit score. Start by paying all your bills on time, reducing your debt, and addressing any outstanding issues on your credit report. Over time, responsible financial behavior will help improve your credit score.
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Save for a Down Payment: Lenders may require a larger down payment if you have a foreclosure in your history. Saving up a sizable down payment can help offset any concerns lenders may have about your previous foreclosure.
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Demonstrate Stable Income: Lenders want to see that you have a stable source of income to repay the mortgage. Provide documentation of your income, such as pay stubs, tax returns, and employment verification letters. Consistent employment history can also strengthen your application.
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Explain the Circumstances: If there were extenuating circumstances that led to the timeshare foreclosure, such as job loss, medical issues, or divorce, be prepared to explain them to the lender. Providing context can help lenders understand why the foreclosure occurred and may improve your chances of approval.
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Work with a Mortgage Broker: A mortgage broker can help you navigate the mortgage application process and find lenders who are more willing to work with individuals with a foreclosure in their history. They have access to a variety of lending options and can help you find the best fit for your situation.
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Build a Strong Financial Profile: In addition to improving your credit score, focus on building a strong financial profile overall. This includes minimizing other debts, maintaining a stable job, and avoiding any new negative marks on your credit report.
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Consider FHA or VA Loans: Government-backed loans through the Federal Housing Administration (FHA) or the Department of Veterans Affairs (VA) may have less stringent requirements than conventional loans, making them more accessible to individuals with past credit issues.
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Be Patient and Persistent: Rebuilding your financial standing takes time, so be patient throughout the process. Keep working on improving your credit and financial situation, and don’t be discouraged by setbacks. Keep trying and exploring different options until you find a lender willing to approve your mortgage application.
By following these steps and demonstrating responsible financial behavior, you can improve your chances of getting approved for a mortgage after a timeshare foreclosure.
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Public corruption is becoming an epidemic. Whether Democrats, or Republicans there’s no room for political corruption, lies, depopulation, bio-weapons like coronavirus vaccines and boosters to depopulate the world, and crimes of treason. The Russian Collusion is a crime against the United States conspired by Hillary Clinton, Barack Obama, Adam Schiff, James Comey, and other nasty corrupt Public Servants.
