Halcyon Posted March 8, 2012 Author Share Posted March 8, 2012 My experience is that getting pre-approved isn't the hard part. The hard part is getting the underwriter to sign off on the deal. The pre-approval process is broad strokes, the underwriting process is nitpicking. Make no mistake, the underwriter WILL factor in your health insurance and other SE costs. However, if you are going for a reasonably priced house and you have the down payment, you're probably in pretty good shape. So they'll look at the Health Insurance costs as a 'debt' when calculating debt to income ratio? That's fine, we're still about 30% even including that. I'm just curious. Health insurance for self-employed people is ridiculously expensive :( Quote Link to comment Share on other sites More sharing options...
Night Elf Posted March 8, 2012 Share Posted March 8, 2012 Here, 'prequalified' is very diff from 'pre approved'. Most real estate agents want ppl 'pre approved'. :iagree: There is a definite difference between the two, but some people think they are interchangeable. Quote Link to comment Share on other sites More sharing options...
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