01-31-2013 06:01 AM
Is it possible to get through underwriting and not have any conditions?
We have worked our butt off the past two years and want the closing process to be painless as possible...
We make $150,000 combined, have a DTI of 5%, leaving us with a balance on our new home of $297,500 for an FHA loan.
My mid score is 675, my wifes is 705
We already gave the builder our 3.5% down in earnest money back in September, and will have appropriate funds for closing costs.
I just want to re-app, get re-approved, re-submit all documentation needed, then hear those magic words of "Clear to Close!!!'...I want it to be as painless as possible
01-31-2013 06:14 AM
01-31-2013 06:14 AM
01-31-2013 06:30 AM
01-31-2013 06:38 AM
01-31-2013 06:40 AM
01-31-2013 07:06 AM
If your credit is solid, income is solid and everything fits the mold then you wouldnt have any conditions.
When I got my approval, all I needed was to get a dispute comment removed, a letter proving rent history and closing had to be in April. Wasn't bad at all.
01-31-2013 10:51 AM
I did make it through without conditions. I closed last April and my file sat in underwriting for TWO WEEKS. Apparantly my UW went on vacation and no one thought to tell me. I got the clear to close without hearing from them even once. Good luck!
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.