Purchasing over renting definitely makes sense in your case. We would have to take a look at your credit, income, & down payment to determine Mortgage Rates. We can issue a rate quote within minutes.
Try to work it out with your current lender. By not closing on the loan at all may hurt the LO or Mortgage Company. If the LO or Mortgage Company is not willing to help out at all, then it's in your best interest to cancel the refinance and apply with another Mortgage Company. Most companies do have a "float down" policy in the event rates drop.
Va guidelines allow 100% loan to value Credit score requirement- 530 minimum credit score No maximum DTI as long as its approved from Our automated underwriting system.
Typically we are looking for income to continue for 3 years or more. Do you have a contract? We would need to see the whole scenario to determine whether we can help you or not.
Yes you can.
We can help out currently with a 600 credit score.
We are able to go off of 1 year of tax returns to qualify since you have been self employed for more than 2 years. We can also use rental income to qualify for the mortgage.
If you signed a contract with a Realtor, you must stay and pay the Realtor. Most Realtors spend a lot of Marketing dollars to help that buyer that came directly to you find your home.
The down payment will depend on your occupancy. Are you going to be occupying this property as your primary residence?
A Pre-Approval letter should state that the buyer's Loan Officer has reviewed the credit, income, assets, and had the file ran through an AUS system (automated underwriting system). Some lenders provide a Pre-Qual, which is basically useless. The Pre-Approval is much more stronger when submitting an offer.