is this the new way mortgage companys are screwing people?
I qualified for 100% financing and with no change in credit (720-730), no change in income, and 6,000 more in saving from when I first applied they changed my 225 approval (I have in writing) to 150 the day that I was going to put a bid on a home for 176.
Same thing happened to a guy my husband works with. He went from 150 down to 110 and didn’t find out till after he put a bid on a house for more than 110.
Not sure what is going on cause even after all the credit stuff changed with lending I had called to check and see if everything was okay with my loan and they had told me everything was fine and even told me they were happy to see that I was being responsible . go figure!
In all I want to know is why my approval change and how can they do that!?
Was going through USAA conventional 30
I have no debt! My car is paid off and is worth 15,000 and have no credit card debt at all!
if I go with a VA or FHA loan will I be approved for more?
it IS a 30 year fixed @ 100%