My husband and I are going through a mortgage.?
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We were supposed to be approved for 100% financing, but a few days from closing, the mortgage company tells us that his credit is too low to get pmi. They have taken 3 months and 3 different banks to get this done and his credit score has dropped in the meantime. I assume because his report has been pulled by 3 different banks. Anyway, they now say we must pay 3300 down so that pmi is not required. We can not use the money in our bank account because a certain balance is required for the loan to go through. We can not borrow the money because our DTI would then be too high; atleast this is what the mortgage company is telling us. Would a title loan or payday loan show up as debt on our credit and cause problems with the loan going through? Help!! I could have easily saved the money in the last 3 months if I had known it was required, but now I have no idea how I can get this money within a week.
My husband and I are going through a mortgage.?This is the SAME BS my wife and I went through. The company repeatedly pulled both our credit reports (6x in 45 days) which made both our status' go from an excellent rating to a good rating. Then all the sudden they said everything changed, we needed a bigger chunk up front, and because of our lowered rating the underwriters didn't approve the quoted % rate. It was unbelievable, we were so mad we showed them the door and went to another lender. Then they tried suing us for going somewhere else. We fought them and won, plus got compensation. The company was Providence Mortgage, a big national lender, stay away.
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