Conventional Loan, new construction

You shouldn't have a problem, but the only real way to know for sure is to get with a lender and let them look at your complete scenario.. You have given a lot of info, which is why i can say fairly confidently you shouldn't have a problem.. But in today's lending environment, i have seen deals get blown out for the stupidest reasons.. so with that being said, you really should sit down with a loan officer and let him look at your complete profile... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Based on what you have described, you should be in great shape to do what you want. Be careful with the lease, though. Sometimes if you break a lease early, it can be reflected as a voluntary Repossession. I've seen it happen and that would kill your plans. The best way to confirm you are pre-qualified is to work with a local Mortgage Banker/Broker rather than one of the big banks or big national mortgage factories. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. We have access to loan products of MANY lenders, not just those of ONE bank, and can properly guide you. But more importantly, we are trained to take a look at the various different options available to you and guide you into the one that makes the best sense for your situation. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

You sound fine... and your story is a great example of why sitting down with a local broker well in advance of your purchase gives you plenty of time to review your situation and adjust accordingly to make sure you get approved. Advice everyone should follow. Good job! www.WI-MortgageBroker.com

Hi Texas Giant, I would agree things sound good for you. It sounds like you have your financing lined up already. We'd be happy to take a look at your situation. We are based here in Texas so we'd be delighted to assist you. Just give us a call at 936-228-1944

Dear Texas,Everything sounds pretty good, although this is based on the information you are providing to us all. A good loan officer will have to dig deeper and see if there are any red flags. Most clients only tell the loan officer the good things, and leave it up to the bank, underwriter and or the loan officer to find the bad, You want to find a loan officer you feel will be a good detective and help you clear anything up before your start your new construction project. Also, during the construction time, he/she should have a plan in place to insure that stay on a good path to be able to close the loan. Many new construction home buyers - make changes to the home such as upgrades, they also charge appliances and fixtures, some even use charge cards to buy new furniture, these things change your dept ratios. Another items new construction buyers forget is to ask about property taxs, insurance and HOA fees. Some times this can cause a loan to be denied. I can provide to you a DO's and Don'ts List if you email directly WWW. HOMEMORTGAGEXPERT.COM thank you Peter

You are far better qualified than 90 per cent of borrowers who want to accomplish the same thing. Work with one of the good lenders on Lender411.

Good morning,I am a small mortgage broker in Houston and have been in business for 20+ years. I do business primarily in the Houston and Dallas area. I am also a licensed underwriter and can issue a real approval letter based on what you've told me. Please feel free to call me at 713-874-1508 x1 and we can discuss the specifics. Or feel free to email me at alix@amkfinancial.com. I look forward to hearing from you. Alix Kee, AMK Financial, 2312 Commonwealth #5, Houston, Tx. My website is www.amkfinancial.com for more information.