FHA Automated Approval

[Anonymous]

Hey this is my first post on this site and I just had a couple questions. My wife and I applied for our first home loan here in Florida and are getting an FHA loan for about 180,000 for a new home thats almost done being built. We finally got my score above 640 so our LO submitted our loan app and got the automated approval and turned it over to the underwiters 2 days ago now. Our LO is very good and has verifed all our documents and already has us fill out LOE explaining all deposits made and she has got up to date pay stubs to verify income. Is there any real concern of us not getting appoved, our file is simple we dont have any business and both employed by major compainies. and are there any conditions we should prepare for. I asked our LO and she did not fore see any issues or hicups but you never know.

[ezdriver]

Since we cannot see your file, your LO's feedback is probably the one to go with.

[Anonymous]

These are the conditions uw came back with.

1.Initial loan application to be dated on page 3 by Brandon and Samantha.

2. B to provide a letter of explanation for the following: Why the address on driver's license does not match any address listed on the application.

3. Document the source of $878.32 from apartment with copy of letter from refund or cancellation of apartment.

4. Provide signed letter from TS confirming that you have 100% access to the funds in the joint Bank of America account #'s 9 and #Letter must indicate account #'s.

5. Provide the bank statement, including all pages reflecting your earnest money check #00 & #01 in the amounts of $500.00 clearing the accounts. Please provide same information for any additional deposits given to builder. Any large non- payroll deposits will need to be documented.

6. Provide the cancelled checks reflecting all your earnest money deposits clearing the accounts.

7. Samantha to provide a letter of explanation for the following: Why the address on driver's license does not match any recent addresses listed on the application.

8. Provide Copy of Marriage Certificate.

9. Complete, sign and return the attached updated Undisclosed Debt Acknowledgement.

10. Provide the name and phone number of the insurance agency you have chosen that will carry the homeowner's insurance coverage on the property

[Anonymous]

I have already replied with all conditions  within 2 days and they re sent the file to underwriting

[Anonymous]

Good luck with your mortgage loan!

[Anonymous]

All the conditions seem straight toward but I guess ill find out next week

[StartingOver10]

OP, it all sounds very normal.

For your internet safety sake, just go back and amend your post with the conditions and take out all the names. You can use anything to replace the names (initials, numbers, screen names etc)  

[Anonymous]

Good call thank you i did not think about that.

[justrock]

Keep me updated please!!  I am in basically the same position except  I'm buying a pre-existing house.  I signed my contracts today and gave my attorney a check for the escrow.  Inspections and appraisal done and my LO ran me through GUS which came back approved.  Loan processer was working on my file today and asked me for an FHA gift letter.  That's all so far.  I'm excited, worried, and convinced this will all fall apart at the last minute.....