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Regular Contributor
Posts: 227
Registered: ‎04-06-2012
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Re: What is GUS

Jm-am, shane, Dallas, in your expertise do you see this being denied or a conditional approval to lower DTI. Would that condition include paying cards off if so I can do that no problem. I have a total revolving balance of 160. Both cards show minimum payments of 25
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New Contributor
Posts: 97
Registered: ‎10-28-2012
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Re: What is GUS

Isthat 41% on house or overall.


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Regular Contributor
Posts: 227
Registered: ‎04-06-2012
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Re: What is GUS

According to USDA guidelines its 41% overall. I just can't believe there is no budge room on this?? Is this USDA who will deny or will my brokers in house underwriter deny this??
Chase Freedom-(1000) BOA 123-(2000) Home Depot-(4000)
Discover IT-(1000) Lowes GE-(1500) Orchard Bank-(300)
Regions Student Visa-(500) Best Buy Reward Zone-(500)
In the garden till 4/01/2015
Valued Contributor
Posts: 2,300
Registered: ‎08-25-2011
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Re: What is GUS

In house UW wont let it go because you don't even fit USDA guidelines. They are gonna make you do something.

Regular Contributor
Posts: 227
Registered: ‎04-06-2012
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Re: What is GUS

I will do whatever it takes I'm hoping for a condition not a denial
Chase Freedom-(1000) BOA 123-(2000) Home Depot-(4000)
Discover IT-(1000) Lowes GE-(1500) Orchard Bank-(300)
Regions Student Visa-(500) Best Buy Reward Zone-(500)
In the garden till 4/01/2015
Contributor
Posts: 87
Registered: ‎04-24-2012
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Re: What is GUS

I just closed a Usda loan with a 46% back end 29% front end and a 640 midscore so I am not sure you should worry too much. I have no idea what waiver I would have qualified for but they never mentioned my dti. I also had a nonpurchasing spouse with government debt!! If the bank has conditionally approved Usda should approve.
Regular Contributor
Posts: 227
Registered: ‎04-06-2012
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Re: What is GUS

What lender did you sues by chance?
Chase Freedom-(1000) BOA 123-(2000) Home Depot-(4000)
Discover IT-(1000) Lowes GE-(1500) Orchard Bank-(300)
Regions Student Visa-(500) Best Buy Reward Zone-(500)
In the garden till 4/01/2015
Contributor
Posts: 87
Registered: ‎04-24-2012
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Re: What is GUS

Flagstar bank. I went through a broker...
Valued Contributor
Posts: 3,302
Registered: ‎06-09-2010
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Re: What is GUS

It can go either way.

Personally if you eliminate the small balances you have would that put your DTI in the right place? If it would or even make it closer I would just pay them off.

But once again I have seen them be approved with slightly higher DTI.

Now if I was in your situation I would just let it ride its course and see what comes back. Yes it can delay your purchase and we all know how impatient we all are. Lol.

Everyone has different experiences because we all have different income, credit profiles, etc etc. It all plays a part when certain criteria isnt met such as your DTi.

Good Luck
May all your dreams and wishes become a reality!
Regular Contributor
Posts: 227
Registered: ‎04-06-2012
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Re: What is GUS

Well today is the day I am suppose to hear back. Just by chance if it is denied is there a way to re try after I pay it off imedietly?
Chase Freedom-(1000) BOA 123-(2000) Home Depot-(4000)
Discover IT-(1000) Lowes GE-(1500) Orchard Bank-(300)
Regions Student Visa-(500) Best Buy Reward Zone-(500)
In the garden till 4/01/2015
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