In Underwriting...PLEASE HELP ME MAKE SENSE OF THIS!!!

[MovingForward_2012]

I would say yes you may want another room as a play area or study. We are renting a 3 bd house right now and it is cramped! And we have only one child. Can't wait until closing to get out of here!

[tooleman694]

The new home has a study and a gameroom.

[MovingForward_2012]

Ours has 4 bd and a study too. So our son's bedroom will be in one of the rooms that shares the jack and Jill bathroom and his playroom will be in the room next door connected to the bathroom. The other bedroom will be the guest bedroom and my office will be in the study on the main level.

[tooleman694]

Ours has 3 bedrooms upstairs, 2 share a jack and jill and one has its own. Plus a gameroom.

Downstairs has the office and the master.

[MovingForward_2012]

Nice! That should definitely be enough room. Our has 4bd upstairs and the guest bedroom also has a bathroom with a shower...they called it the mother-in-law room LOL!

[tooleman694]

Mother inlaw should be a 1000 miles away minimum.

[MovingForward_2012]

+1 LOL!

[Anonymous]

I wanted to fill you guys in on my situation to help me like yall have done in the past... (Thanks)

Our file was sent to USDA a couple of weeks ago. The LO gave us a conditional closing date of 2-14. Ok, so we were celebrating because we felt like this part of the race was working out. Anyway, LO calls me yesterday and tells me that USDA says they want 12 months cancelled checks for rental verification because:

DH social security income could not be grossed up 25% because he did not claim it last year on his taxes. Therefore, this has made his DTI very high, like 50% or so.

Which had caused our file to come back as a "refer" on GUS.

The problem is- we pay our rent in cash to a private owner. Our land lady has filled out the verification form, reluctantly. She has been a nightmare since this started!

We have about 7 months of bank statements verifying we pay our rent. The LO says she will resubmit with that but is not sure what the outcome will be. She says in 20 years, this is the first time this has happened.

We have paid off and closed two accounts that they requested.

What would you do? Any experiences??  Any advice would be helpful. I am about to lose it or close to it!

[Laura2323]

Did you close the accounts or just pay off the two you reference?  If you closed two credit cards, this may drop your score a bit because the utilization numbers will change. 

Best of luck to you!

[Anonymous]

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@Laura2323 wrote:

Did you close the accounts or just pay off the two you reference?  If you closed two credit cards, this may drop your score a bit because the utilization numbers will change. 

Best of luck to you!

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UW required the two accounts to be paid and closed. Thank you, need all the luck our way..