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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Qualifying with the lender after taking a mortgage Subject To... Posted by Ian Forsyth on August 17, 2003 at 7:50 PM Hi! I read previous posts where if you reach an assumption agreement with a lender, you generally have to pay a 2% assumption fee for the privilege of taking over the previous owner's unpaid lien once you've qualified credit wise, and then a flat fee of $200. Let's say I endure this aggrivation. Are the lenders as stringent about qualifying you credit wise as they would be with a fully documented new loan app, e.g. are they going to be taking a hard look at my debt to income ratios or is a good FICO score and assets sufficient? If I qualify for a no ratio loan or stated income loan, would I generally qualify here? Follow Ups: A reasonably good credit record plus their fees would do it.. Ward-CA- 10:48 PM, 08/17/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Hi! : I read previous posts where if you reach an assumption agreement with a lender, you generally have to pay a 2% assumption fee for the privilege of taking over : the previous owner's unpaid lien once you've qualified credit wise, and then a flat fee of $200. : Let's say I endure this aggrivation. Are the lenders as stringent about qualifying you credit wise as they would be with a fully documented new loan app, e.g. are they going to be taking a hard look at my debt to income ratios or is a good FICO score and assets sufficient? If I qualify for a no ratio loan or stated income loan, would I generally qualify here? Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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