So, I am posting this for my friend. She needs encouragement that FHA underwriting will be no problems.
1. She is using FHA and has co-borrower which is her mom.
2. Her middle mortgage score was 778, her moms was 772 - according to mortgage broker. No lates or negatives at all, ever.
3. She has been in same field of work for 1.5 years but has steady employment for many years, her mom same field and same exact job for 30 years.
4. Combined income of 40-45k.
5. She has loan in on home at $74,900 with 3.5% down and 6% closing costs paid by seller.
6. Inspection was perfect, septic inspection was perfect.
7. Debt between the two of them of about 6k, minimum payments combined about $185. They have no other debts and her mom only has lot rent of $250 a month.
Mortgage broker seemed to not have any worries but she says she is all too familiar with how underwriting can be and is worried. She has clients that get denied in underwriting (shes a realtor).
Is there any reason for her to be nervous? Would it be possible to get automatic underwriting approval? If that even exists anymore.
