My fiancee is puchasing a home (im not on it, long story) SO, his credit scores are 698, 701 and 710, all of our bills (ie, rent, utilities, etc) are paid on time, in full every month. He did however have a lapse in employment for 1.5 yr, NO jobs here in NJ. He's since been back to work for 6 months, with a pretty secure future with company. We (he) signed a contract on a $98,500 foreclosure home in April, financing $96,000 through an FHA loan. He's had survey, title seach, appraisal (came out atleast for selling price, havent seen it yet) Has homeowners ins. paid in full for the year. Loan is now in underwriting, they came back and asked for rent reciept from may and july 2012, a letter of explanation for the unemployment (laid off, company downsized/birth of premature daughter) and a letter from our landlord saying rent is current and paid on time for past 2 yrs. We were supposed to go to closing today (5-24) but now only have till the 30th to close (selling bank's say so) Are the odds of being approved on our side or are we in danger of having nowhere to live come 6/1, since we already gave out 30 days notice?!? **UPDATE** As of 12:36pm we are APPROVED, CLEAR TO CLOSE!!!!!!!!!! SO SUPER EXCITED!! This has been a veeery long, scary, hard fought process, but it ended with us getting our home!!!!!!!!!!!!!!!
Starting Score: 600
