Pissed off over stupid.......

[zeke]

Ok bros, I am trying to buy a house through a USDA loan and the government says my debt to income ratio is to high. If I make more money my X-wife takes me back to court and gets my child support raised... Don't have to tell you what I think of this messed up system we have...

 

[Shovel]

I pay over 600 monthly for 2 kids. Lol
Still worth it that I don't have to live with the ex though!

 

[ozzy69]

can you get a loan thru a bank?

 

[zeke]

USDA is 100% financing at 3.75% 30 year fixed so that's why I'm going that route. I pay $1,639 for three children... One of which is 20 that I've been trying to get off for over a year... I'm paying his car payment, insurance and college... O'yea, the hits just keep on coming ;-)

 

[BigSickD]

This is why I married a girl that makes twice what I make and I make good oil money. That way if anything happens, she pays me alimony..

 

[Jumperz]

This is why I married a girl that makes twice what I make and I make good oil money. That way if anything happens, she pays me alimony..

You my friend are the bloody smart one!
That's why I don't want to get married... Hmm

 

[Freezerdude]

I suggest moving to another state. In Tn and Va Child Support stops at 18 and the X can olnly take you up for a increase every 3 years, Check boardering states laws..

 

[bufbiker]

I just refinanced two weeks ago. In fact I was sitting at my dining room table with the notary signing papers when my Dr called and we argued over my blood work.
I refie'd through an investment company that I have investments with.
It cost me $5,599 and change but dropped a 1236.98 a month payment to 1078.38 and interest rate from 6% to 4%.
I'll save over $90,000 over the course of the loan.
If you have any investments check with your broker.

 

[Shovel]

USDA is 100% financing at 3.75% 30 year fixed so that's why I'm going that route. I pay $1,639 for three children... One of which is 20 that I've been trying to get off for over a year... I'm paying his car payment, insurance and college... O'yea, the hits just keep on coming ;-)

If my kids want college, they better get a scholarship or go to the Marines... I'm changing my address and phone number when they're 18! ha

 

[A.B]

I suggest moving to another state. In Tn and Va Child Support stops at 18 and the X can olnly take you up for a increase every 3 years, Check boardering states laws..

Check this^^

I think majority of places is 18 years and the payments stop, she could owe you money

 

[Darkness]

Check this^^

I think majority of places is 18 years and the payments stop, she could owe you money

Alot of states go to 19 IF the kid is still in high school. I have never heard of paying child support for a kid 20 years old. When I was 20 I was a grown man with a 3 year old kid, 2 jobs, my own apartment, 2 cars, etc., etc.

 

[cowboytroy]

USDA was designed for low income familys and yes you actually have to make chump change to qualify for it. USDA and VA are the only loans on the market as of now that are 100%. I'm a Real Estate Broker and I've lost several sales because of that loan. It can't be used in a larger city either. I don't know what you make bro but if your paying that in child support your loan officer should be off setting that against you DTI. Debt to income ratio. Last time I checked the DTI was 45% for the USDA. Its been awhile since I've done a USDA. I usually try to move the buyer over to a FHA or Conv.
Check with your loan officer and see if the city or county your in have any bond programs going for first time homebuyers (if you are a first time buyer) usually you can get your down payment granted to you by them and you can FHA then. Don't look at a 1/4 or even 1/2 of a point as a big deal on interest. Alot of people get tunnel vision when buying on interest rate. Look at it this way. Your not going to live in that house for 30 years (no one does that anymore) so you won't be paying on that note for 30 years. Things change. You'll get a better job, you'll get all your kids off child support maybe even get married again. All these can change your out look on your existing home situation and you'll want to sell and re-buy. So don't worry so much about the %, instead look at what it's going to cost you to buy and try to spend the least amount possible to get in. Ask for 100% buy concessions. We are in a buyers market and if the seller really wants to sell they will pay all your closing costs and any pre-paids that is required by your lender. Now if you do go with a loan that requires 3.5 to 5% down make sure that the down payment is seasoned for aleast 2 months. Most lenders want to make sure that the money actually belong to you and your great aunt didn't loan it to you. This mortgage industry is really jacked up right now. Instead of trying to fuel the economy they are making it harder to qualify to buy.
Our Congressman are abunch of idiots. Its real easy to fix this nations problem. Create jobs, ease up on lending guidelines and stop spending stupid amounts of money over seas and spend here.
Why is it so hard for those idiots to figure that out.
Guess thats why I'm JOE Q citizen and don't know nothing.
Good luck with your purchase bro.

 

[zeke]

Ok, well it just went to USDA. It was verbally approved, so next week we should close. That are running a few days behind.



My 20 year old hopefully comes off next month and my 18 in August when he turns 19. The twenty year old is in college now and hopefully my 19 has a scholarship next year. She is hitting me up for college and yes I have thought of moving to Florida, but the only person that would suffer would be my kids and it isn't their fault...

Thanks bros for listening to me cent!