TSP LOAN CALC MANUAL
TSP LOAN CALC SIMULATOR

You've always been honest, up-front, no nonsense and SO knowledgeable!! You are AWESOME!!!Īnd I think in light of the recent crap our economy's gone through, this is ESPECIALLY important to say: Thank you, Dallas (and Missus Dallas for sharing), for taking the time and the effort to help so many people have a home the SMART way, the HONEST way and the KIND way!! Hugs to you!!Ĭopyright ©2001- Fair Isaac Corporation. some may ask for a letter of explanation, but you wont be using a lender like that, right?!?!?ĭallas, if I didn't think that I've driven you nutso with my stupid questions, what I'd REALLY love to do is ask you if you'd be our LO!!

if automated accepts, the underwriter wont care in most cases. it is viewed the same as taking it from savings. since no DP is needed in that case, would that be a better way to go in order to make our tiny (in my mind) DP LOOK bigger and be a better factor?ģ. We have discussed going VA (since DH qualifies). Would $20K be considered a big down payment on a $200-225K home? Or are you saying (and if I'm wrong, PLEASE forgive me) that the LO will just move the numbers around as needed to get us approved? If that's the case, will that be binding when time comes to fund the DP? I guess what I'm saying is that we have to provide documentation stating '$20K -> down payment' and can't slip any of that to the side to act as reserves. from there, they'll disburse the amount to US, from which we pay it out.

From what the TSP rep's told us, we have to enter into a contract, THEN provide that documentation for the loan to TSP. and keep stacking stuff.īut in the case of our TSP, there won't be any stacking, if I understand you correctly. low reserves on one side, but big down payment on the other.

TSP LOAN CALC MANUAL

And the biggie: IF we pass automated WITH a Dec '07 late, will we get spanked in manual UW for the late? How does that wrote:ġ.

How badly will the mortgage lender/real estate agent want to kill us for having them have to work with the TSP? TSP requires documentation (contract, settlement paperwork, etc) prior to releasing the funds (which will take approximately a week to disburse).

How bad does it look to be using a TSP loan for the down payment? Is that seen as a high risk or red flag?.

IF the seller pays closing, does that include points as well?.

How badly will lack of high reserves hurt us considering that we're putting down $20K (more than 3%)?.

We're hoping to find a home in the $200-225K range (want 'enough' house, but not too much) and are hoping to negotiate seller paying all closing costs. We have $20K (from our TSP - taking it as a residential loan, so we're borrowing from ourselves) to put down as down payment and for appraisals, inspections, etc (TSP loans can't be used for loan origination fees or points).

TSP LOAN CALC SIMULATOR

We're waiting for the updates to happen and FICO simulator puts EQ (our lowest) at roughly 670 after the updates. The most recent 'severe' late we have is a 30 day in April on our car note - the rest will be clean as far back as Dec '07. Theoretically, we could qualify, I assume. We've gotten DH's FICOs up to the ones in my siggie - right now, FICO says our mid-score is 628 (EX).

Tsp loan calc