|Quoting BNAflyer78 (Reply 3):|
It's almost like they are TRYING to qualify unqualified applicants just to meet a quota or something.
Once they close the house, the builder will factor the loan off to another bank. Then, it is off their books and they don't give a shit what happens to it. They want to sell a house, not marry you. So yes, they are pushing the limit on qualification.
Aside from the lower payment I don't see the benefit of these loans, unless you are intending on getting out of the place in a hurry. It is like you are negotiating a payment instead of a sales price, which is not a good thing to do.
Things were better when it was two guys in a dorm room.