If you work in public accounting, does each firm have a list of mortgage lenders available so that you comply with Independence?

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Mortgage would not impair your independence. Same with the car loan.

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Yes, and at EY there are certain lenders that are proscribed. EY has stricter independence rules than PwC.

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What PWC1 said. It's backed by an asset so it doesn't cause impariment

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At EY you have to report your mortgage in the independence website as well as your title insurance.

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Yea, we all have to report it, but it still would not impair your independence

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@BDO1 Low cost of living cities are gold for public. I cover all my expenses with my first paycheck and still have a little extra after.

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As long as you stay current me thinks

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How are you looking to buy a house as a Staff? Where the hell do you work?? I need to come work there.

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It can create independence issues for some of us lucky people at Deloitte.

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I've worked 25-40 hours a week since I was 18 and saved the majority of it. I live at home with my parents currently to save money and help them around the house since they travel for work a lot. I am grateful I have the option to. I do live in a low COL. A 2,000 square foot new build is about $220K.

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^ exactly. I bought a house in a low COL area literally 2 months after I started out of school. Barely had enough money for the 3.5% down (had to sell my motorcycle to make it happen). I bought in 2012 so I'm sitting pretty right now :)

Yes

Yes at EY you must only get a mortgage from the proscribed list.

At Deloitte we have independence issues on them. They have a list of preferred partners/discounts

RSM makes you ask as well. Speaking from experience.

Where can I find the list at EY?

Call Independence. But also don't feel limited to that list. Those rates are often higher than what you can get from other (local) banks. Your realtor should be able to guide you, and I recommend you get Independence to sign off on the specific lender before you pull the trigger. PwC peeps should not be advising here - they have different (and more lenient) rules.

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