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Tracy Logan's Answers


Underwriter says NO
Depending on when your close of escrow date is, the bank may grant an extension while you are still in the loan process. Lenders can implement guideline "overlays" so just because one lender may deny your loan, another may very well be able to approve you. I get about 2 calls a week from buyers...
Can i seek another appraiser? I did not like his judgement or attitude, is it possible?
If it's a FHA or VA appraisal, no. If it's Conventional, then it would be at your lender discretion if they would allow it. I would talk to your loan officer to see if his/her company allows it. There has to be sufficient evidence of wrong doing to order another one, attitude unfortunately doesn't fit into...
For Arizona (Maricopa County): Need 90% LTV on jumbo loan for home contract of $1.75M; desired loan amount $1.575M.
Hi there, I will have my Arizona license in about 30 days but you will not be able to get a jumbo loan at 90% LTV. You're looking at a minimum of 20% - 30% down depending on fico.Thank you.

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