Mortgage Loans

[maygirl]

So I finally got my score up to a 640, and are doing USDA with my husband as a non-purchasing spouse. We are in Texas so it is community property.... : (

1. Would a non-purchasing spouse have to pay collections? They asked for mine to be paid, but also had one of his listed, which I don't understand why I would have to pay.

2. Would the underwriter check CAIVERS or whatever before issueing a conditional approval???? I am worried that my husband has something that could show up on there and don't want to be surprised.

3. Does anyone know how long USDA is TX is taking? Our house was done on the 29th, we are still in underwriting even though I told my LO we had to close this week, and are moving to a hotel. I am just wondering what my time frame is after it finally gets out of underwriting and finally sent to USDA.

Thanks : )

[tooleman694]

They probably wont require your husband to pay his, but the underwriter could still ask.

I am also in Texas, and im doing FHA with a non-purchasing spouse and they didn't require my Wife to pay off hers.

From what I understand, once it gets out of underwriting and goes over to USDA you are about a month off from closing. I wish it wasn't the case, and with the holidays coming, man thats not fun.

[maygirl]

Thanks for the response! I hope it can get sent in this week then! : ) It will not be fun to be in a hotel with a 5, 4, and 2 yr old at Christmas! I wish my LO would have informed me of this before we moved out of our apartment!!!!!!!!!!!!!!!!!!!

[jeffg330]

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maygirl wrote:

So I finally got my score up to a 640, and are doing USDA with my husband as a non-purchasing spouse. We are in Texas so it is community property.... : (

1. Would a non-purchasing spouse have to pay collections? They asked for mine to be paid, but also had one of his listed, which I don't understand why I would have to pay.

2. Would the underwriter check CAIVERS or whatever before issueing a conditional approval???? I am worried that my husband has something that could show up on there and don't want to be surprised.

3. Does anyone know how long USDA is TX is taking? Our house was done on the 29th, we are still in underwriting even though I told my LO we had to close this week, and are moving to a hotel. I am just wondering what my time frame is after it finally gets out of underwriting and finally sent to USDA.

Thanks : )

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I would think your LO would check CAIVRS before submitting to UW....Anyone agree with that? I had similar worries with my non paying spouse but since I'm approved on bank and waiting on USDA I think I we're in the clear. Good luck, I hope you get out of the hotel quickly