FHA Underwriting

[Anonymous]

Will I pass? Loan has gone to underwriting and we are worried to death. My scores that were pulled by LO average 655. Coborrowers average 650. I earned 18k in 07, 28k in 08 and 38+ so far this yr. Got a current house payment of $450mnth (to be sold when get the new house) and truck payment of $250mnth. Coborrow gets about $2200 a mnth, has payments of car $370 a mnth and camper of $160 a mnth. Thats all our bills. What worries me is my 07 W2"s. We have about 10 to 15K in the bank and we are trying get an FHA loan for the new house at $135000. We are told new house should appraise at 150k to 160k. Will we pass? What are the odds that we will?

[Anonymous]

Just relax,  Its out of your hands right now..

Underwriting has been a crapshoot lately,  but if you have a strong file, you will be just fine. 

[ShanetheMortgageMan]

What did your loan officer say after they reviewed all of your documentation?

What was your income situation in 2007, and what is your income situation now?  What is the difference?  It appears you are making more money each year for the past few years.