Still being turned down for mortgages, time to lawyer up?

I don’t recall that but will take your word for it. I’m no fan of socialism for sure. To me the credit system is crap but even worse would be the government deciding who is worthy of a loan or not. For all I know and is fairly apparent, I would not be capable of a loan just because I’m not vaccinated. So, certainly I’m not a fan of big government. I’m just another deplorable that should be thrown on the heap of trash.

 

My world view isn't based off of "books I read", it's based off my experiences. I'm sorry that it offends you, and I would be happy to examine any evidence you have that discredits it. Until then I will continue to believe that the credit rating system is faulty due to it's structure and underlying assumptions .

 

Get out of the financial system.
Be your own central bank.

 

Something doesn't seem to add up especially with your deposit being more than 25% down ($60k on a $200 property). I'm just wondering if they're now analyzing your annually income or Only basing it on your weekly income thinking that if something goea wrong with your miles being less it brings down your your availability to make thoses monthly mortage payments?

In Ontario, Canada they go through us with a tooth & comb in order of obtaining a mortgage. You need to show your income taxes, pay stubs, obvious credit checks etc. However, our broker asked for any additional investments and income etc. So at the time my credit score was 792 with $35k (deposit) plus an additional $265k from my last home equity for a $900k house (prices here are ridiculously higher than any otherwhere in the world to own a house). My job is hourly so they must be looking and miscalculating your income rate scaring them into thinking you can't make the payments if given the mortage.

 

A lot of the Mortgage brokers and affiliate Underwriters havent basic common sense on just averaging your overall salary to a weekly/monthly or Annual payment. Unfortunately, a lot might be jealous or even vindictive whiles beijg jealous because you as a trucket make more or have more in your bank then them. Many can be just plan ignorant and round down on your annual salary to see if bank interest rates go up..if you can handle the mortage. You Need to find a Broker with common sense and a better understanding or the trucking industry fianacal pay structures including Otr. Otherwise its going to be a tsunami or morons delaying your mortage.

 

Just pay cash...... Sell your $95k property, use your $60k savings, and if you can save $3500/month...12 months later and there's your $200k. No banks, no mortgage, no interest... win, win.

 

I was with you all the way up to Uber driver
I’m pretty sure an Uber driver could get it done

 

Fundamentally, you need to get to someone who can write the loan, not a commissioned sales dweeb (i.e. mortgage broker). Of course the commissioned sales dweeb is going to start out with "easy, no problem", his bread gets buttered by making sure you don't get anywhere else.

Go talk to a local bank, local credit union, or, if you're a Dave Ramsey fan, Churchill Mortgage. You may not be able to get a CONFORMING mortgage (a mortgage than can be resold easy because it hits all the standards of the Feds loan buying organizations, where well over 90% of mortgages eventually end up). If you don't qualify for a conforming mortgage, you can still get a non-conforming mortgage from a local lender that will portfolio the loan (i.e. not sell it). That's how I got my first house. Local bank saw two ambitious recent college grads and figured we were a good risk.

Get off the phone, and start knocking on doors in your town. Sit down with branch managers preferably (not "loan officers", they are just flunkies) and ask them if they can do a non-conforming loan. If they can, you'll be on your way.

 

That’s not how credit scores work sport. If you have no debt for six months your credit score will become zero. You don’t get a credit score of 810-820 by having no debt. People who have 820 credit scores have a huge pile of debt with an even larger pile of income. You are either over exaggerating your case to paint yourself as a victim or you’re flat out lying.

This rant makes you sound like a nut job. It has never been easier to get a loan. Find five different mortgage brokers and give them the info they want. Make sure at least one of them does manual underwriting and you’ll get your loan.