refi homes in 2 different states ? re: lower dti ratio
We want to refi on 2 homes one (second home) is in Delaware 19701. The primary residence is in New Jersey 08062. good credit score. should we find one company/bank to do both or do them separately. maybe also an income property in Phila. 19141 . would like to take advantage of the lower rates. would several loans at the same time affect my credit rating. all payments are current. Thanks by bmwssr_199_816 from Mullica Hill, New Jersey. Apr 1st 2012
Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions
I would advise trying to find a regional Mortgage Banker/Broker. A Regional Banker/Broker will have the ability to use copies of your documentation for all of the deals, yet select the actual lender/investor for each of the properties to get you the best program for each. If you end up using different originators for each of the properties, you must make sure you fully disclose the details of all of your transactions to each of the originators. If you originate the primary residence with one and the investment property with another and don't tell each of them about the other transaction, this simple omission of facts could be interpreted as a form of fraud and come back to bite you. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com
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