My Lender screwed up

[lincruss]

What is the name of your state (only U.S. law)? Maryland


My lender tells me a week before I'm supposed to close that somehow they didn't know the house that I was buying had a HOA and because of this I won't be able to get my CDA loan for $5000 because the HOA is increasing my ratio. How this fell through the crack he has no idea but that doesn't help me because they wont' give me the loan unless I can pay off my car note and that is not possible. I did everything I was supposed to do as far as getting my loans and this happens to me. How could they let this happen when he received the listing from my realtor with the HOA fee listed, the same as I got so he can't explane how they missed this. What can I do because I paid for the inspection and the appraisal and this mistake was not my fault and now I may lose the house that I wanted. Please help

 

[HomeGuru]

What is the name of your state (only U.S. law)? Maryland


My lender tells me a week before I'm supposed to close that somehow they didn't know the house that I was buying had a HOA and because of this I won't be able to get my CDA loan for $5000 because the HOA is increasing my ratio. How this fell through the crack he has no idea but that doesn't help me because they wont' give me the loan unless I can pay off my car note and that is not possible. I did everything I was supposed to do as far as getting my loans and this happens to me. How could they let this happen when he received the listing from my realtor with the HOA fee listed, the same as I got so he can't explane how they missed this. What can I do because I paid for the inspection and the appraisal and this mistake was not my fault and now I may lose the house that I wanted. Please help

**A: HOA's do not increase ratios, it is the lender's underwriting guidelines.
Yes, they messed up but the reality is, you are now not qualified.

 

[CLJM]

What is the name of your state (only U.S. law)? Maryland


My lender tells me a week before I'm supposed to close that somehow they didn't know the house that I was buying had a HOA and because of this I won't be able to get my CDA loan for $5000 because the HOA is increasing my ratio. How this fell through the crack he has no idea but that doesn't help me because they wont' give me the loan unless I can pay off my car note and that is not possible. I did everything I was supposed to do as far as getting my loans and this happens to me. How could they let this happen when he received the listing from my realtor with the HOA fee listed, the same as I got so he can't explane how they missed this. What can I do because I paid for the inspection and the appraisal and this mistake was not my fault and now I may lose the house that I wanted. Please help

Your ratio has been changed because of the additional (overlooked) HOA fee.
Because of this, your loan application no longer meets the lending institutions lending criteria.
Is there another program the lender can put you in ?
Your Realtor may be able to help if they know of a better lender suited to your match.