I am trying to get a 30y fixed rate for $417K / 10% down and it's a nightmare as I am self-employed...
Tried with a mortgage broker who was treating me as a "difficult" case and now trying to get a FHA (government) mortgage through a regular bank...
It's not easy at all.

Posted by: abitbol_d at July 17, 2008 4:29 PM in response to Who is trying to get a Mortgage and what problems you are facing?

"What - Am surprised to say that your Q was too generic and I wonder if the responders stating that they've had little trouble are all looking for loans on a Coop/Condo or Sgl Family with a loan amount under $729,000 (or $790,000)."

The reason I posted this question, I wanted to get a snap shot of mortgages now. I know people still have access to capital.

"I am trying to get a 30y fixed rate for $417K / 10% down and it's a nightmare as I am self-employed..."

I know the "self employed" thing is hard. Most banks have remove S/E and Stated products.

"As far as I can tell trying to mortgage a 3 family house even if you're living in it as your principal place of residence is getting much harder."

HELOC's are dead. Did you know most of the HELOC's given in the last couple of years are non preforming. Most of them might be written off.

Thank you for responding! I hope you have good luck and no I not schizoid.

The What

Someday this war is gonna end...

Posted by: what at July 18, 2008 2:08 AM in response to Who is trying to get a Mortgage and what problems you are facing?

Hey what,

While you arent busy prophesizing Armageddon, how about some useful advice?

Wait or buy?

When?

Where?

Listings that provide value?

Inquiring minds want to know.....

Posted by: slick at July 18, 2008 2:47 AM in response to Who is trying to get a Mortgage and what problems you are facing?

What - you are wrong. I just posted above that the Bridge Loan I was approved for is also a HELOC, which was complete news to me. And its for several hundred thousand. We didn't even ask for it. It was just handed to us.

Posted by: Architerrorist at July 18, 2008 9:37 AM in response to Who is trying to get a Mortgage and what problems you are facing?

What - you are wrong. I just posted above that the Bridge Loan I was approved for is also a HELOC, which was complete news to me. And its for several hundred thousand. We didn't even ask for it. It was just handed to us.

I think people with good track records are getting the red carpet treatment. I've had 2 helocs and 5 mortgages with clean records in the past 12 years.

Posted by: Architerrorist at July 18, 2008 9:39 AM in response to Who is trying to get a Mortgage and what problems you are facing?

Thought you'd told us many months ago you were a mortgage broker yourself. "What" gives?

Posted by: NeoGrec at July 18, 2008 5:38 PM in response to Who is trying to get a Mortgage and what problems you are facing?