I bought my home about 3 years ago and since have gotten married now i am?

tryn to sell my home ,i set a price and the people went to the bank to see about getting a home loan to buy my home the man called back and ask if we would come down on the price because his intrest rate was gonna be high due to the fact that i had bought my home from a repo dealer. is this true that they can charge him a higt rate because of where i bough my home?or is this man tryn to get me just to come down on my price....i thought your instrest was due to your credit rating. thank you

I bought my home about 3 years ago and since have gotten married now i am?cash loan

HERE%26#039;S WHAT%26#039;S PROBABLY HAPPENING:

The only effect who you bought your home from would have on their loan is they might not be able to justify the value of the house. When you buy a home, the loan is based on the lesser of the appraised value or the purchase price. Since you bought your home for a lowered price from the repo dealer, I would assume, this is most likely affecting the appraised value their lender is working with. Appraisals and lenders not only base their value on neighboring home sales but also incorporate previous selling prices. A big jump from the previous sale and to the current lisitng price would need to be justified and this guy is probably not doing what he needs to to make that happen.

Say you are selling the house for 500K and the buyers have 100K down. This would be 80% financing, great position for a good rate. Now say the appraisal and lender are only willing to take a 400K value on the home due to the previous sale to you...they take the lower because if the house does go into foreclosure in four months, they only expect the house to sell for 400K This means the loan would be considered 100% financing and the rates would be in the toilet.

If this is the situation, this guy is not doing his job. He needs to prove to the lender that your original reduced price had nothing to do with the house and was due to it being repossesed or foreclosed on. Since they priced the house to sell asap, you got a deal. There are many ways for him to justify the current purchase price and appraised value. He is just being lazy asking you to lower your price and even lazier to not explain himself better. I would be curious to find out if this is the case...

I bought my home about 3 years ago and since have gotten married now i am?

loan

He is trying to scam you. Interest rate is based on credit, not on who you purchased your home from.|||This guy is just trying to get the house for less money plain and simple. His DTI (debt to income) might be the reason he needs you to lower the price because he doesn%26#039;t make enough money afford the home.|||The buyer is full of BS his intrest rate has nothing to do with where your home came from or bought from. Its more likely his credit is the problem.|||I%26#039;ve never heard of anything like that after 20 years in the real estate industry.|||I%26#039;m 99.9% sure he%26#039;s lying. Don%26#039;t sell for a price that you can%26#039;t afford. And even so I wouldn%26#039;t sell to this guy, he sounds like trouble. If you%26#039;ve already accepted his offer, you have every right to back out and give him his deposit back.|||He%26#039;s making it up. What terms he can get on a loan have nothing to do with where you bought the house or how you acquired it, as long as you have a clean title.|||Sounds like his credit is the issue. Talk to your realtor.|||How you acquired the home, doesn%26#039;t really have much to do with a current buyer qualifying for a particular loan program. The present appraised value is what the lender would consider although lenders can make their own evaluation or review of the appraisal and adjust the appraised value accordingly.