We found a house to be built in Hillsborough county in May and signed the contract while still living in NYC.
The loan was modified as "second home" conventional loan since I was still living in NYC. There are few things that didn't sound right with the loan officer, when she found out that my in laws live in Naples, she immediately suggested that maybe they can help us with the down payment. She also says that I should get a letter from my employers showing that I can work anywhere. A week past after I signed the contract I sent all the papers to her. Two weeks later someone from their mortgage company called my former company to verify my employment and told our managing partner that I will be moving to Florida. Which I plan in telling my company in December after we close.
In early June, I've got a job offer in Tampa and before I accepted the job offer, I consulted my loan officer what minimum salary that I should accept (since NYC and Tampa has about 20% salary cap difference) to continue my contract. She replied and emailed me with the minimum salary requirement and mentioned that I would be qualify in FHA loan since my income lowered to 20%. She also indicated that I should pay off some of my debts and to put 3.25% down payment. I emailed her a copy of my signed offer letter and new address in Tampa.
In early July, I moved to Tampa. The mortgage company called me and told me if I received papers they sent recently and I said, I didn't receive it because I already moved to Tampa, the person was caught by surprise and told him that my loan officer knew about the move and I forwarded him the email I sent in June then few days later my loan officer emailed me with a new loan modification based on the FHA 5/arm and now she wants me to pay off all my debts plus $35k of down payment. Her reason is because the FHA purchase cap changed in June to $271k after she emailed me but never told me about the change until this Saturday speaking with her on the phone? The purchase price of the house is $306k so now she wanted me to cover the difference.
Are they allowed to tell my employer that I am relocating somewhere?
I did my research and the FHA cap changed to $271 last December. Am I correct?
I feel like she screwed me over, what should I do now?
The loan was modified as "second home" conventional loan since I was still living in NYC. There are few things that didn't sound right with the loan officer, when she found out that my in laws live in Naples, she immediately suggested that maybe they can help us with the down payment. She also says that I should get a letter from my employers showing that I can work anywhere. A week past after I signed the contract I sent all the papers to her. Two weeks later someone from their mortgage company called my former company to verify my employment and told our managing partner that I will be moving to Florida. Which I plan in telling my company in December after we close.
In early June, I've got a job offer in Tampa and before I accepted the job offer, I consulted my loan officer what minimum salary that I should accept (since NYC and Tampa has about 20% salary cap difference) to continue my contract. She replied and emailed me with the minimum salary requirement and mentioned that I would be qualify in FHA loan since my income lowered to 20%. She also indicated that I should pay off some of my debts and to put 3.25% down payment. I emailed her a copy of my signed offer letter and new address in Tampa.
In early July, I moved to Tampa. The mortgage company called me and told me if I received papers they sent recently and I said, I didn't receive it because I already moved to Tampa, the person was caught by surprise and told him that my loan officer knew about the move and I forwarded him the email I sent in June then few days later my loan officer emailed me with a new loan modification based on the FHA 5/arm and now she wants me to pay off all my debts plus $35k of down payment. Her reason is because the FHA purchase cap changed in June to $271k after she emailed me but never told me about the change until this Saturday speaking with her on the phone? The purchase price of the house is $306k so now she wanted me to cover the difference.
Are they allowed to tell my employer that I am relocating somewhere?
I did my research and the FHA cap changed to $271 last December. Am I correct?
I feel like she screwed me over, what should I do now?
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