Any chance of getting a loan? FICO is at 615 but have a cosigner.

[Anonymous]

I just applied for an FHA loan with US Bank and very nervous about the approval. I do not have a 620 score, but it is at 615. My father did cosign for me with a credit score of 850. My debt to income ratio was really high because I am in grad school and my student loans will hurt. Does anyone have any idea if I will get approved or not? I'm so nervous. I did get preapproved but have not heard back from the UW dept with an approval at this time. Any suggestions?

[llecs]

Hi OP, I split your post to form a new thread here to keep the other on topic. I had to edit the subject line but changed nothing else. If you'd like to chang ethe subject line, feel free to do so by clicking "Options" and then "Edit Message" to make that change.

Score-wise, you've got it. Could the DTI be an issue?

[lkcrew426]

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@Anonymous wrote:

I just applied for an FHA loan with US Bank and very nervous about the approval. I do not have a 620 score, but it is at 615. My father did cosign for me with a credit score of 850. My debt to income ratio was really high because I am in grad school and my student loans will hurt. Does anyone have any idea if I will get approved or not? I'm so nervous. I did get preapproved but have not heard back from the UW dept with an approval at this time. Any suggestions?

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How far away from graduation are you? Usually if it is more than 12 months they don't count the loans in your DTI.

[ShanetheMortgageMan]

Information asked for in the thread http://ficoforums.myfico.com/t5/Mortgage-Loans/Help-the-FICO-Forums-help-you-with-your-mortgage-qual... is needed to provide accurate feedback.

[Anonymous]

Thanks for your help i'm new to this, but yes i'm afraid the DTI would be an issue. I'm glad to hear score wise i'm ok though. Thanks for your help

[Anonymous]

I graduate in Dec 2010.

[laz98]

which score is 850, TU or EQ?  that's very rare.