Mortgage lenders for truckers….

All depends on where that $70k is being made .

if it’s in NYC or Los Angeles or San Fran , they are never gonna get a house

if it’s in Chattanooga or Spartanburg or Knoxville ,
it’s very doable .

if it’s in Moneroeville Alabama , you can have one of the nicest homes In town.

 

Past 2 years royally screwed the housing market here.
Indianapolis, shes stuck with places worth 80k for 250k

I told her to wait for the crash and save, similar to truck market atm

 

Totally depends on where you are at, earning $70k

if it’s in NYC LA or SF forget it .
If you’re in Conecuh County Alabama ,you’d be considered rich and you can buy a very nice house for under $100k easily.

 

This is a strange situation. I, too, work as a truck driver and get paid per mile, and when I got my mortgage recently, none of the lenders had any questions. I can advise you to contact Mortgage Advisor Leicester for advice if this is still relevant to you. I don't think they had the right to reject your mortgage application if a previous person approved it. I'm sorry you still haven't gotten a mortgage, and I hope you heed my advice. Respectfully, Jim.

 

Scary time for some folks but the end game is what’s important. Make sure the house is sound and don’t put yourself in over your head.

 

If you're a military vet, USAA is easy to deal with.

 

Good advice here

 

Only you can determine if it is worth it.

if you plan to be in the same place for a long time, 5 years or more, you don’t have consumer debt and you have a good down payment, I’d encourage you to strongly consider buying.

Why?

Because:

rent goes up every year.
House prices go up pretty steadily.
Mortgage payments never go up, so your largest living expense is cost controlled.
Once your house is paid off, you’ll have that much more disposable income to invest, spend, send kids to college with; or you could take an easy, breezy, job and coast to retirement.

 

Mortgage payments don't go up?

Who pays for the increase in escrow?

 

If anyone thinks a renter doesn’t pay or isn’t affected by the property taxes they are just foolish. You pay me the property owner a rent based on those taxes and my cost for insurance and finance and profit. If anything goes up your rent goes up. If your smart and take a fixed rate loan for your property that part of your payment is fixed. Can your escrow account to pay property taxes actually go up? Yes if your taxes go up. Count on it happening but your actual loan cost will not go higher and it is the bulk of your monthly payment.

Escrow is not part of your monthly mortgage payment. It is in most cases an agreement with the bank that finances your home to pay taxes in advance along with your monthly mortgage payment. The bulk of that amount is your home cost and is fixed only the escrow portion can fluctuate. My escrow on this property has done both over the years. It had at one point went down by a couple dollars a year and then at an other point it went up by a couple dollars a year.