[cobra de capell]

Originally Posted by Mark Husar

Ron,
In your brief you are discussing the electric rate increase. Are you in the PG&E service area? Is that a local increase or across the board?
Please give me more information.
BTW,
I bought a home across the street from my residence. I paid cash for the good deal and my son's and I did all the repairs.
My son applied for a loan for just the cost of the home, (purchase price + repair costs, no labor or profit).
That was four months ago. He meets lending criteria, income level, & appraisal level but cannot get a loan. Underwriters keep barfing it up.
Loan amount is only a hundred grand. House payment is only 1/2 the amount of his former rent.

What's wrong here? Can a member help clear up what we are doing wrong?

Thanks

Thanks Ron

You've not posted sufficient information for meaningful input. Although, even if it was a smokin' deal - no money down may be an issue. You need to discuss this with a lender or a mortgage broker - probably a mortgage broker would be best since they don't make money unless they make loans happen. With that said, underwriters always have a reason to 'barf up' loans and that reason is regularly stated and provided to the applicant.