I am relieved to finally have my file submitted to underwriting, but I am terrified at the same time. I am the only applicant with mid score is 673, history BK 3 yrs ago, 2 new open lines of credit, 5 total lines of credit with positive history since BK, DTI 34% with new mortgage, and basic taxes & income. The FHA apprasial came in at offering price and there were no need for repairs. I have worked with my LO for some time and have confidence in him, but still I am worried that he may have missed something.
I am wondering if anyone can give me some info on reasons for denial after a DU pre-approval (other than the obvious of not taking on new debt, managing banking accounts appropriately, not changing jobs, ect). I am also wondering what info could be requested as conditions other than the usual. Also, can anyone tell me why a BK schedules are requested and what it is reviewed for? Not that it is a big deal, but why would it be needed if they have the discharge paperwork?
Any feedback would be appreciated. Thanks!
