@StarraeAday1 wrote: Anyone else yet? Purchase Price: $160,000 w/$4,000 seller concessions Down Payment: 3.5% from Missouri DPA program Product: FHA 30-year Mid-Score: 683 Rate: 3.75% due to receiving DPA Closing Date: August 14 Possible Issues: Foreclosure in June 2017 and Ch7 BK discharged in January 2018. We've been preapproved by our LO; he ran our info through AUS and got an automated approval and he doesn't seem worried. But max DTI is 45% and we're at 44.63%, mostly due to them using 1% of my student loans. We own a very small business that's been open barely two years and the business pays one of the auto payments, so we're banking on disregarding the business income and that auto payment to make our DTI work. We have a full year of the business paying the loan so LO says it shouldn't be a problem, but I have anxiety over EVERYTHING. Our offer was accepted on June 26 and I think LO got started on everything yesterday, so I’m assuming that inspection and appraisal are the next steps, right? Our inspection is scheduled for tomorrow morning, 7/3. I got my initial disclosures yesterday, and I need to reach out to my LO today because I don't fully understand what all the numbers will ultimately mean because we're receiving DPA. And our DTI isn't as high as I calculated because they grossed up my husband's SSDI income and my monthly average was slighly higher than I expected; DTI ended up being around 42%.
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