I have signed a contact on a house that is being built. It will not be ready for about 2 months. I had to wait for some paperwork (BR) to come in and took to the broker last week. I signed all of my paperwork with here and she said everything looks fine. I talked with her today and she said she will be sending my file to the Underwriter to ok due to us having a BR from 2002 that was discharged in 2003.
Broker has my certificate. House is $142K. I make 47K. My wife will not be on the loan her mid score is not enough. Our DTI is 10% now (only one payment $385 auto) and once we take on the loan 33%. I do have some lates all from one account CC that I payed off from Jan 2008.
I plan to pay off my auto with my 8K tax rebate. That will lower my DTI back to around 17%.
With the BR and the Lates I am very concerned! Am I ok?
Broker pulled scores 6/2/09 TU 665 EQ 648 EX 692
