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how can i get a "non-conforming" mortgage?

i'd really like to go conventional but my debt has been calculated as too high. can't an exception be made if all of my other information like credit, income and down payment are in line? i have a 744 fico by j_reynolds3249870... from Horsham, Pennsylvania. May 14th 2014 Reply


Joe Cafiero (JCafiero)
#20 ranked lender in Pennsylvania - 17 contributions

I guess the question is how high is it and is there a better way to structure the loan. If you would like someone to take a second look at I would be happy to help. I too live in Montgomery Cty and can meet with you if you would like. Joe CafieroGuaranteed Ratewww.guaranteedrate.com/joecafieroph: 484 348-1781email: joe.cafiero@guaranteedrate.com

May 14th 2014
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Dennis Callan (Dennis)
#30 ranked lender in Pennsylvania - 7 contributions

You mentioned down payment as one of the strengths to your application. Could you put less down and then use the other money to pay off some debt to improve your ratios. I would be happy to run through the numbers with you an see what would make sense to payoff and see if we can get the ratios in line. Dennis Callan 484 716 5283.

May 14th 2014
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Paul Klaas (paul@paequity.com)
#22 ranked lender in Pennsylvania - 9 contributions

What is the debt ratio currently? If income is correctly calculated try to see if there are some smaller debt balances with higher monthly payments that you might be able to pay off in order to eliminate the monthly obligations and ultimately decrease debt ratio. For example an installment car loan coming to an end with a high monthly payment. I have received approvals on Fannie Mae and Freddie Mac up to 50%. Have also received approvals on FHA at 58%. You my also want to look at the rate and see where it needs to be to get the debt ratio in line. Also look at decreasing the loan amount. Many things to consider. I am a wholesale rate mortgage broker and I am the President of the company. Call me on my personal mobile if you want to run the scenario past me real quick. I wish you well...Paul 412.559.4030

May 14th 2014
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Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#76 ranked lender in Florida - 2,240 contributions

What is your DTI? How much of a down payment are you able to make?

May 14th 2014
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Mike Silkworth (msilkw_195_870)
#30 ranked lender in Michigan - 527 contributions

The best thing to do is to look at your debt for opportunities to re-structure it. Sitting down with an Experienced local lender is the best idea.

May 14th 2014
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Peter Botros (PeterBotros)
#71 ranked lender in New York - 895 contributions

I can help you depending on what your ratio is. Email me details at Peter.Botros@usmortgage.com or call me 347 231 4444

May 14th 2014
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Andrea Varvolis (AndreaVarvolis)
#82 ranked lender in Pennsylvania - 20 contributions

Depending on what your debt ratio is now. We can discuss your options if you'd like, if so, then give me a call or email me to discuss further. Thanks, Andrea 215-272-1157 andrea@monumentmortgage.net

May 14th 2014
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