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Originally Posted by skyguy79

Very nice, thoughtful and knowledgable post. I suspect you may have been involved in the business!

As I stated, my pre qualification amount was determined before they know if there would be any bond involvement. So the only things I can think of is that they either factored a possible bond in the determination, but don't do it transparently where I can see that they did, would or could have adjusted the amount if they later found out that there was a bond, or they could see that I was able to handle any bond with our stable income in any senario. What ever it was though, I have to believe you in that they somehow covered themselves in our ability to pay the bond... up front or in annual payments.

Anyway, I hope our discussion helps without presenting any confusion for the OP!

My guess is that is exactly what happened regarding your bond. Your qualification was fine when it was factored in. Yes, to confirm your statement, I have over 25 years experience in the residential mortgage business as a loan officer so I have pretty much seen it all. We have put a deposit on a lot in St. James and are excited to become a part of the Villages community later this year or early 2012 (have to sell our house first). Linda