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Valued Contributor
Posts: 2,487
Registered: ‎02-18-2010
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Re: OMG!!!! I GOT MY FHA PRE-APPROVAL!!!!!

If the appraisal comes in low, you have to make up the difference or they have to lower the price to meet you.  So if your appraisal sets your upper loan limit at 100k but sale price plus improvements is 120k, you will need to come up with 20k + $3500 + closing costs, or you will have to get them to reduce their sale price by 20k. 


Starting Score: EQ 583 TU04 619 EX 592 (lender pull) 2010
Previous High Score: EQ 700 TU04 712 EX 726
Current Score: EQ 740 TU(Discover) 750 EX(AMEX) 747
Goal Score: 740+ all around


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Regular Contributor
Posts: 173
Registered: ‎11-01-2010
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Re: OMG!!!! I GOT MY FHA PRE-APPROVAL!!!!!

I have no collections or anything like that...I had two lates over a year ago and only one tradine showed a dispute on the lender pull, my scores were in the 680's and 670's I use Quicken too!!!  I didn't know if they would accept those forms or not...I have TONS of documentation!!!  Thanks so much for the feedback...it is so strange going through this process...you feel so exposed to the world!!!!  Your scores are incredible, that is why FHA didn't give you a tough time...not so sure it will be that way with me...


Starting Score: TU 545 EQ 575 EX 581
Current Score: EQ 699 TU 670 EX 679
Goal Score: 750


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Regular Contributor
Posts: 173
Registered: ‎11-01-2010
0

Re: OMG!!!! I GOT MY FHA PRE-APPROVAL!!!!!

OMG!!! Ok this is REALLY helpful!!!  I don't want any surprises like that!!!!


Starting Score: TU 545 EQ 575 EX 581
Current Score: EQ 699 TU 670 EX 679
Goal Score: 750


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