Mortgage Loans

[jwpezd]

What is GUS and if it says accept elligable does that mean we are maybe going to be okay???

[DallasLoanGuy]

automated underwriting for usda loan.

accept is good. it is a computer approval of the loan.

a human will verify everything, but the gus findings are a great indication of approval if the loan officer plugged the data into the system right

[jwpezd]

So I can start to feel a little bit better about this??? My DTI still seems a tad over at 41.6% this is what's keeping me up at night

[tooleman694]

Do you score over 660 for your middle score.

[jwpezd]

My wife does I am at657 after rapid restore...

[tooleman694]

oh crap.............

What does your util look like.

What kind of baddies do you have.

[jwpezd]

Very low utilization under 15%. All bad 12 months or older student loan lates. My wife has three small collections..... I don't like your first words....

[tooleman694]

Yeah you are very very close.

Knock that util down to like 2 percent and I think you will get the 3 points.

[jwpezd]

Will they have to rescore again?? I am under contract.... I didn't know .6 would be a deal breaker? I had asked earlier about paying something off or refinancing a car. I have talked to two different credit unions that said they can get it done in a day and also show my new payment on the new car loan. Us bank said it would be ten business days to show it has been payed off. I don't close till April. I hear back from manual UW today or tomorrow morning. My file was sent to them last night.

So tool man even though GUS says yes your thinking I'm going to get denied from the UW? Or would it get denied when it goes to USDA?

[tooleman694]

You need to get a waiver, I doubt you will make it passed the UW.

Yup you will need another rescore done.