My husband and I are currently waiting on the manual underwriters to approve or deny our VA loan. Our lender says our approval status was "refer eligible" but only because of the bankruptsy...My husband is the veteran and would be first on the loan app. His mid score is 638 and my mid score is a 679. He has about 4 credit cards in his name that are all but 1 almost paid off...the 1 has a balance of $600 and it's a $1100 credit line. He also has a loan through his employment with a $3000 credit line and the balance is $2700. The pmt is ded from his pay check. No other discrepancies on his credit hist. In addition he has his truck pmt and pays child support for 1 child. I have 1 credit card with a credit line of $500 and there is a $107 balance. The only other debt I have is my van...his name is on the loan as a co-signer. The only bad history I have on my credit is a ch 13 bankrutpsy with my ex husband (because of a job layoff-no control) that was dischged in Dec 2011. Since then I've had 2 vehicles in my name, paid on time, never late...even 2 wks 90% prior to due date. We are NEVER late on bills. Our DTI is 43%, our joint annual income is $69k as well as my incoming child support per yr of $14,520.00 for 3 children which totals, $83,520.00. Our lender seems to think we have a great shot? Any thoughts? We have already had the offer in and was accepted on the house and have a projected closing date of 7/1. We should hear back by tomorrow from the manual underwriters...we are so nervous...the waiting is terrifying as 1st time home buyers. Please someone put our minds at ease or prepare us for bad news??
