Is it normal to be this NERVOUS?

Anonymous · ‎10-23-2016

Our offer was accepted on a house my husband and I love! We are now in the stages of negotiating some repairs.

I was transparent with my loan officer about our credit file (charged off Private student loans and Private student loans in collections). He ran us through the automated FHA approval system and that's how we received our pre approval.

I'm so nervous for the underwriting part and scared the loan will fall through. How often does this happen to people?

Anonymous · ‎10-23-2016

I should add..

Middle mortgage score is 650

DTI is within FHA limits

CC Utilization about 30%

iv · ‎10-23-2016

Being nervous is perfectly normal. It's OK!

But it sounds like you're on top of things - you've discussed possible issues with your LO, you know the FHA rules, you know your DTI, you know your scores... and you've passed automated approval!

Sure, things can come up (and they will - expect requests for addition info and documents during the process, that's common), but it sounds like you and your LO are on the right track. You'll likely be just fine.

Good luck, and let us know how it goes!

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Anonymous · ‎10-24-2016

Same boat as you. Middle score is 619. Offer accepted on the 12th and now waiting for appraisal and UW to clear so we can get a closing date. So nervous that it's going to fall through due to something in my finances or credit. LO says we'll be fine but I'm still worried.

Anonymous · ‎10-25-2016

Thank you everyone! I'm glad I'm not the only person who is this stressed!

seruby · ‎10-25-2016

Apparently, a lot of people get nervous or worried during the process. Lots of my coworkers were telling me they were stressing during the process up until they actually closed. Maybe I should be worried that I'm not nervous, stressed, or excited.

DallasLoanGuy · ‎10-25-2016

i have seen similar profiles fly right thru underwriting.

Retired Lender

Anonymous · ‎10-25-2016

Thank you so much, I'm going to stop reading every worst case scenario!

@DallasLoanGuy wrote:
i have seen similar profiles fly right thru underwriting.

DallasLoanGuy · ‎10-25-2016

remember. we dont hear all of the easy deals here..... we just hear the war stories

if your loan officer is half way decent, you will be fine

Retired Lender

Anonymous · ‎10-25-2016

@DallasLoanGuy wrote:
remember. we dont hear all of the easy deals here..... we just hear the war stories

if your loan officer is half way decent, you will be fine

Thank you!