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Looking for a Direct Lender with no overlays on minimum trade lines

by subby252 from St. Paul, Minnesota. Dec 27th 2017 Reply


Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,656 contributions

While this sounds like a simple question, there really isn't enough information here to just say use me or try this place. It is way more complicated. First, ALL lenders will run your application through automated underwriting systems. The computer decides yes or refer. Assuming yes, then some lenders add a few extra internal guidelines, commonly as overlays. Those adding the most overlays tend to be the big banks. From your question, it would appear you have limited credit history, and someone said try someone without overlays. Again, more complicated than that. But I would say, just try a non Bank lender like us, where we offer not only what we do internally, but the offerings of multiple other lenders, investors, and banks. For situations like this in MN, WI, SD, or FL, contact meat www.JoeMetzler.com or call (651) 552-3681

Dec 27th 2017
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Joe's comment is correct in that it's hard to answer just a yes or no. Did you try to get a USDA loan and were told you "need tradelines" and read something in Google about "overlays" and looking for a way around it? The answer there is NO for everyone. That's an AGENCY rule. Did you get turned down for an FHA loan or VA or Conventional... or are you a local lender looking to refer a dead deal for your Mother In law? Contact some of the smart LO's who are answering you here directly... and we'll help get to the bottom if your inquiry and help if we can.

Dec 28th 2017
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Joe's comment is correct in that it's hard to answer just a yes or no. Did you try to get a USDA loan and were told you "need tradelines" and read something in Google about "overlays" and looking for a way around it? The answer there is NO for everyone. That's an AGENCY rule. Did you get turned down for an FHA loan or VA or Conventional... or are you a local lender looking to refer a dead deal for your Mother In law? Contact some of the smart LO's who are answering you here directly... and we'll help get to the bottom if your inquiry and help if we can.My name is Steven Brand...local MN/WI "mortgage guy" for over 16 years that can't log in remotely right now. Contact is 844-VA-Steve Or look up my contact details in the search thingy.

Dec 28th 2017
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,266 contributions

As Joe said.. more info needed... and unfortunately, there are no yes or no answers without looking at the complete loan profile. it's possible you were turned down for other things as well, but they told you it was for a minimum amount of tradelines.. the only way to know for sure is to get with a competent loan officer (like Joe Metzler).. and let him look at the complete picture.. i'm sure he'll give you a straight answer.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Dec 28th 2017
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