Being married has nothing to do with why you weren’t approved. Getting married won’t change anything. Something is different between your situation and your friends. No two mortgages are ever exactly the same.

Jessie James Answered the question
“why do you rob banks?” as follows
“because that is where the money is”

The same applies to mortgages, in order to find the best possible source for mortgages you need to be in touch with not just realtors, but the best possible realtors you can find in your area.

How do you go about that, well another famous person had a good answer to this:

If you want to become a millionaire, you need to take millionares for lunch.

Here are my suggestions;

Talk to all the real estate office managers in your target market area and see if you can present a free 30 minute training class to all the agents in the office and your topic will be something like “how Realtors make more money using creative financing”

at the traing class collect all the busness cards and enter them in your pim (personal information management software) and commit to follow up with all of them at least 2 time per month with information that will make realtors more money in less time, rate sheets and feature sheets will not cut it.

In addition you are going to search out the top agents in your area and invite them individually for a meeting or lunch and ask them a whole bunch of questions about how they have succeeded in their business and what they would recommend you do and not to do, offer to do services and assist them in any way posssible and then ask what you would have to add to the agents marketing advantage to earn his/her referrals.

Read the book millionaire real estate agent by Gary Keller and you will understand how to go about systemizing your business as well as understand how top agents function and operate, that way you can value to their business and earn theirs.

GoOd Luck

i don’t thing this is a good idea to take home equity line in order to pay your first mortgage. you will end up with higher payment- interest rates on equity lines are more then 8.25%- maybe you can get lover rate for a couple of months and in order for you to pay principal on this loan , you need to pay more, then your monthly payment ( it’s working like credit card- min. payment cover only the interest) why don’t you call any appraisal and ask about value check on your house? i agree with the answers before me to rather pay ore towards your principal on your mortgage.

Home Equity Lines Of Credit are usually adjustable rate loans based upon the prime interest rate witch today is at 8.25%. That is a base rate and may be higher for individual borrowers dependent upon their combined loan to value and credit scores.

Your PMI will be automatically waived after 2 years as long as your payments have been on time and the market in your area is stable.

You can analyze the viability of a line of credit option by computing your proposed line of credit payment compared to the PMI payment.

If you’d like you can call me toll free at 800-971-4638 ext. 223 and I’ll help you get enough information together to make a good decision.

No charge, no commitment, just glad to to help

A lot of these programs are very strict on how much you make. Most likely you make to much money to get the funding.
As to getting a better rate if you are married or single it is all the same.
you could also just have a lazy mortgage person who doesn’t want to have to do all the paper work.

I need to refinance my home and land. But our credit ***** can you help?

I am in the same boat as you, I will be married in 6 weeks and a year ago my fiance and I purchased a house. Getting the mortgage was not an issue. If both of you have good credit and a good job history you’ll be approved. The issue with the DTI can be solved by paying off a few of the small balance accounts you have. Regardless of your balances whether it’s $50 or $500 it will still show a monthly payment of $20 or whatever… Add a bunch of those together and they add up. Once you’ve gotten that taken care of I recommend getting a lawyer to draw up an antenuptial. All that does is recognize the interest in the property i.e. 50/50, 40/60. It’s important if one of you puts a substantial amount of money down. Good Luck and Congrats on the Wedding!

You should just pay extra to the principal on your first mortgage. There is no need to take out another loan and I don’t understand why you would. Just write your mortgage payment for more than you have to pay and make sure they know it is to go toward the principal on your loan.

Rather than take out a second mortgage why don’t you just pay the additional money toward the principal every month. That way you are paying down the principal, saving yourself from paying the additional interest and increasing your equity. Talk to your bank and see how far you need to go to get to the 80%. Also, don’t just assume once you get to the 80% that the bank will automatically knock off the PMI – you need to tell them in writing.

No. They and you must abide by the terms of your note.