“In all honesty, once you’re over 720, going any higher doesn’t make a hill of beans difference.”
Mine is 820. Just went through a loan process and got raked over the coals. They asked for funds verifications vastly in excess of the required down. They “required” that I use a specific appraiser and then his appraisal came in at least 30% low and then they required a subsequent inspection by a specific inspector and really stupid escrowed repairs.
I knew that the bank was playing some games with the loan, but I was in a rush and knew that I was getting the house at a significant discount. I figured it wouldn’t matter in the long run, so I chose to ignore their games. Now I think perhaps I will send a letter to those nice RESPA folks.
If you can verify income, the “reserves” requirements in addition to down payment funds should have been no more than 2 months worth of mortgage payment.
What repairs were needed? They might not have been as “stupid” as you think.
What area are you in BTW?