background:
ch7 2 years ago
foreclosure 3 years ago
Ive been preapproved and my offer on a house has been accepted. Now all the paperwork has started im nervous.
I own my current home free and clear so i have no mtg or rent payment to report. Just property tax.
I have no reported credit other than my utilities which have no lates.
My only other recurring bills are a cell phone and a cable bill and i need a letter of explanation for both of them.
-For the cell phone it shows a late payment while i was disputing an issue with my account.
-For the cable bill, the billing dept messed up my autopay. I was able to have the billing mgr write a letter for me on letterhead.
My mtg broker says she does tons of FHA loans and i shouldnt worry because i have have the letters and:
mid score 648
my income is 50k
mtg loan $138k (fha)
dti 30%
I still cant get past the fact that i have poor history, marginal score, and both of my open accounts need explanations...it just seems like UW is gonna give me a hard time.
What do you guys think?