Suggestions for shaky mortgage?

[Anonymous]

I've got a tricky mortgage situaiton, so hopefully someone will weigh in. I had posted before that I couldn't get financing because of working through a temp to hire situation. I've been a welder for 7+ years and changed jobs due to layoff. Still working in welding and wage per hour is the same but more hours than my previous welding job so income is actually better.Switched to a different loan officer and he didn't think it would be a problem since it was the same field.

Credit score is 730. Debt to income ratio with the mortgage and escrow will only be 14%. No bad credit history. Home is in a USDA area and right now the goal is USDA guaranteed but I also applied for USDA direct just in case.

Bank account has been sitting at around $2600. House appraised at $9500.00 above approved offer price (short sale). Obviously, I was hoping to roll some of the closing costs into the mortgage but so far that hasn't happened despite my loan officer stating that it was a good possibility. Underwriting has asked for proof of $3020.00 available for closing costs but my last statement only had an ending balance of around $2600.00.It hasn't increased since then as the plant I'm working at shut down between the holidays and I had a couple weeks with slim pay.

So, here's the other question, I don't want to really deal with a gift situation as I think that will make my already shaky application look even weaker even though USDA does allow gifts. My wife and I have about $1200.00 worth in gold jewelry which could be unloaded quickly enough, but I was wondering if a written purchase offer from a jeweler would count as proof of available cash to close in addition to the $2600 on my last statement? I don't really want to sell the jewelry as we're anticipating about a $6200.00 tax rebate based on the numbers off my last paystub of the year. Our closing isn't until the last day of January by which time that tax refund will be in my account. 

Thoughts?

[Revelate]

Just take the gift of $500 from someone and go on with life.  Call it a family loan if need be if that's all that's standing between you and getting the mortgage underwritten.  Not really certain what's shaky about your application on a USDA loan if you qualify unless you've had a long stretch out of work in the last two years.

I don't countenance mortgage fraud (and this is really a long ass way from that), but write a $500 dollar invoice to a buddy for X hours of work even to satisfy underwriting, take the cash, and just refund him the money in a few months post closing, or just promise plenty of beer whenever he comes over to your new house.  It's not like they're going to come back and audit you for that one and if you paid taxes on it for this year's filing in 12 months, they have literally zero place to go with it anyway.  Edit: ignore the non-invoice route, UW is going to ask where the cash magically appeared from, IRS is moot.

No one's going to care on this one, and compared to all the shenanigans people did this is so ridiculously trivial in the long run you're going to be laughing about it even next year when you're relaxing with said beer in your house.

[IOBA]

I agree - accept the "Gift" for $500-600 (whatever it is you will need to put you over the limit for closing costs).

You can pay it back later.   Have the "gifter" write a letter saying it's being gifted to you, copy the check, get a new print out of your bank balance.  Good to go!