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Home mortgage loan BS....

Discussion in 'Questions From New Drivers' started by Lennythedriver, Mar 13, 2020.

Page 3 of 5
  1. Mar 14, 2020 #21
    Truckermania

    Truckermania Road Train Member

    1,103
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    Oct 13, 2011
    Sturgis,SD
    0
    I got a loan last year through quicken loans. Go to rocketmortgage.com. They were pretty easy to work with and understanding.
     
    Truckermania, Mar 14, 2020
    Truckermania, Mar 14, 2020
    #21
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  3. Mar 14, 2020 #22
    theSoz

    theSoz Light Load Member

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    Jan 24, 2020
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    Something smells fishy... You can't even qualify for an FHA loan with a 800 credit score.
     
    theSoz, Mar 14, 2020
    theSoz, Mar 14, 2020
    #22
  4. Mar 14, 2020 #23
    kemosabi49

    kemosabi49 Trucker Forum STAFF Staff Member

    10,011
    41,497
    Jan 13, 2013
    SW Arkansas
    0
    No longer true. If your FHA loan originated after June 2013, you are not eligible for mortgage insurance cancellation on a FHA loan. You are stuck with it til payoff or re-finance.
     
    kemosabi49, Mar 14, 2020
    kemosabi49, Mar 14, 2020
    #23
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  5. Mar 14, 2020 #24
    bigtravelr

    bigtravelr Light Load Member

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    Jul 8, 2017
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    If you put down 10%, the term of the mortgage insurance is only 11 years then it drops off automatically.
     
    bigtravelr, Mar 14, 2020
    bigtravelr, Mar 14, 2020
    #24
  7. Mar 14, 2020 #25
    Last Time Around

    Last Time Around Medium Load Member

    609
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    Jun 9, 2018
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    Maybe work by the hour or salary if you think it is cuz you are paid by the mile???
    I get salary, regardless of miles, and I've not seen a problem with loans
     
    Last Time Around, Mar 14, 2020
    Last Time Around, Mar 14, 2020
    #25
  8. Mar 14, 2020 #26
    tscottme

    tscottme Road Train Member

    11,730
    21,325
    Jul 25, 2008
    Somewhere out West, in my mind.
    0
    commission-only salesmen have the same issue. Feel free to start giving 30 year loans to people with highly variable income and very little income history. It's only a 30 year bet. Go for it.
     
    tscottme, Mar 14, 2020
    tscottme, Mar 14, 2020
    #26
  9. Mar 14, 2020 #27
    Lennythedriver

    Lennythedriver Road Train Member

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    I’m not reliant on truck driving, I went in the truck driving for a change of scenery and a new way of life. Not because I was in dire straits. There’s about six other professions that all I would have to do is push a button and I could have a job. That’s how I ended up with an 800 credit score. I’ve always worked and everyone I’ve worked for would hire me back. I’m not tooting my own horn it’s just a fact. it’s unfair! Some of y’all are missing the point. It’s just another example of truck drivers being crapped on. Most of us make pretty #### good money. They’ll give a home loan to some snot nose millennial just out of college making 25,000 a year who has to live with three roommates to afford his mortgage and a truck driver who single make a 90,000 a year they’ll stick his nose up at them because he’s a dirty truck driver and he gets paid by the mile. Time for a class action lawsuit against the mortgage institutions. There’s no reason for it.
     
    Lennythedriver, Mar 14, 2020
    Lennythedriver, Mar 14, 2020
    #27
  10. Mar 14, 2020 #28
    Lennythedriver

    Lennythedriver Road Train Member

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    Feb 14, 2020
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    I’m still a newbie at a year and a half in and in addition to my post above, I’m amazed at how much crap some of your drivers take out there. Me? I’ll take a little but I won’t take being out right disrespect just because I’m a truck driver. When I walk into a shipper and receiver I’m polite, if they give me reason to not be polite, I’m happy to oblige. I see some of you drivers come in there to these different places and your treated like absolute crap. Worse than a second class citizen and you just take it. Not me, I was raised to stand up for myself. I’ve been asked to leave a shipper before because I objected to being treated like a second class person.
     
    Lennythedriver, Mar 14, 2020
    Lennythedriver, Mar 14, 2020
    #28
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  11. Mar 14, 2020 #29
    MrEd

    MrEd Road Train Member

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    Winfred, SD
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    That underwriter lied to you. If that where true, most of the truck drivers, especially in the OTR segment would be renters or homeless. I have bought three different homes since I started driving. Nothing ever said about CPM. Always questioned length of time at current job, though. Like others have said, apply elsewhere. If the house is worth what they are asking, and your debt to income ratio is in order, you'll get approved at the right lender.
     
    MrEd, Mar 14, 2020
    MrEd, Mar 14, 2020
    #29
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  12. Mar 18, 2020 #30
    MrEd

    MrEd Road Train Member

    2,196
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    Sep 2, 2011
    Winfred, SD
    0
    I agree with you about the respect thing. And I am not saying this applies to you! I'm just speaking generally! Many people out here in this industry need to understand that respect is earned. A person has to be respectable to be respected. A person can not be disrespected IF they are not acting respectable in the first place. I often hear the same guys who smell to high heaven and waddle into a shipper demanding, with much profanity, to be loaded right now, cry about respect !!!!! Then they whine and cry about how bad they are being treated as they waddle back out to their truck to throw their trash and pee bottle out on the ground. And everyone in the building is glad they went outside so that their eyelids can uncurl from the stench. Respect is earned. Act respectable America, and you will be respected.
     
    MrEd, Mar 18, 2020
    MrEd, Mar 18, 2020
    #30
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