Mortgage questions.

Discussion in 'Trucker Taxes and Truck Financing' started by dngrous_dime, Nov 2, 2017.

  1. Accidental Trucker

    Accidental Trucker Road Train Member

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    FWIW but VA loans are typically higher interest, higher fees and more rules than conventional loans.

    Financially, it makes much more sense to take out a qualifying loan (i.e. conventional).
     
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  2. HighwayD

    HighwayD Light Load Member

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    Everyone who is telling you to stay is right. You need that 2 years. Just stick it out till you move in man. Oh, and I'm sure you don't have any problems in this department but make sure not to overdraft your checking account in any way, either. That will be instant disqualification.
     
  3. dngrous_dime

    dngrous_dime Road Train Member

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    Figures, I had one overdraft earlier this week. Silly, because I had the cash in another account, and had to transfer asap.
    And I heard from a mortgage broker who said 2 years total as cpm, and minimum 6 months on current job.
     
  4. Jazz1

    Jazz1 Road Train Member

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    There is nothing personal about lending. My wife just got out of mortgage financing. You fill in the blanks, banker enters info to system and it is either ye or ne. A B lender would likely approve you at 20% interest....not sure how rates are in your neck of the woods.
    Overdrafts suck and possibly more common simply because many of us have gone to paperless statements and I know I sure as heck don't read my bank statements, maybe if they added pics or jokes.
     
  5. dngrous_dime

    dngrous_dime Road Train Member

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    It was all because my balance got lower than normal due to forgetting which payments I already made, and then my Netflix payment came out. I missed the email that informed me about it, otherwise the 24hr grace period would have covered it.
    Edit: That was the first OD I had in nearly 2yrs.
     
  6. Scooter Jones

    Scooter Jones Road Train Member

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    Might wanna get a small line of line of credit with the same bank and use it as overdraft protection.
     
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  7. HighwayD

    HighwayD Light Load Member

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    That doesn't mean it's completely over. What I had to do was start a new checking account and build up a 2 month history of overdraft free. This was because I over drafted my account also. Don't give up and stay tenacious. You'll be fine. This stuff has a way of working out!
     
  8. dngrous_dime

    dngrous_dime Road Train Member

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    It was simply oversight on my part, like I said, first time it happened in 2 years.
     
  9. Jazz1

    Jazz1 Road Train Member

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    I have not had overdraft protection since I figured out what all my bank fees were tallying up. Almost $300 a year for services I did not use. Cash withdraw fees etc
     
  10. Scooter Jones

    Scooter Jones Road Train Member

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    I have a personal LOC with a current annual rate of 7% APR attached to my account that cost me nothing unless I use it. I don't overdraft my account, ever. However, just in case, that LOC interest charge for a day on a small overdraft would be peanuts compared to a $35 bank overdraft fee plus my account being tagged negatively.
     
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