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What can I do to get more (or better) quotes for my loan request ZR-YMHTPXT

Can I improve my loan if I get a co-signer? But they do not have great credit
  • January 26 2012 - San Jose
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Answers (6)

Typically a co-signer is required because the borrower does not have the best credit or lacks income. Please clarify which is your case. If you are utilizing them for income then by all means go ahead if it is for there credit you might as well leave them off.
  • January 30 2012
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Chuck, many of those same thoughts ran through my head, but I knew I'd enjoy your response better than any of mine.  

Thanks again for a good laugh.
  • January 27 2012
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Ray, you have to consider the source. Don has no idea what the question even means. The OP didn't even utter the words "rate", "shortsale" or ask about what was important when choosing a lender. I have no idea what question Don was answering.

As for your actual question, you only received one quote because you are asking for a 112.875% LTV refinance and most won't quote that because you have to meet a specific criteria in order to qualify . The one quote you did receive seems to understand your situation and may offer a solution.
  • January 27 2012
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Of course there are many things to consider when choosing someone to work with.  I was just trying simply to address his question of getting more quotes for his request.  My response is based on my own experience in trying to get more or better quotes.

Of course, after that, then there's the topic of who to choose and how best to choose someone to deliver on that quote and that's a whole different Oprah!
  • January 27 2012
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Certainly -- giving Ray a call and discussing the situation one on one --- should clarify things for you. 

In addition to rate -- there are other things that are important when choosing a lender, or mortgage broker.  Have they worked with Short Sales,  and understand some of the time constraints that are often imposed?  In general what is their time line to closing... what is their recommendation for locking rates -- and does that work for you...

  • January 27 2012
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This may not fix your problem fully, but I've seen instances where there are too few filters checked such as only the zero point option.  I've seen many lenders pricing pop up with the 1 point filter checked, but who only have a few hundred dollars in "points".  It's the way the system categorizes the fees from us.

Tell us some more about your particular situation and I'm sure you'll have plenty of helpful responses.
  • January 26 2012
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