I need you guys opinion I bought a Townhouse last year for $150,000 and I had $24,000 in c.c. debt but I manage to get approved. Now I'm looking for a House. I signed a deal with DR Horton Express homes for a house priced at $203,000. I'm trying to sell my town home but I'm getting no bites and my realtor says I might have to rent it out... I was preapproved by the loan processor.. The big problem is that I have $146,000 mortgage. .. $35,000 in credit card debt... I don't think I'll get approve through underwriting for this second $ 203, 000 loan.. it's been in underwriting since Aug 28th.. they said I could get approved with some conditions..I don't know what's taking so long for approval or denial...it's all I think about. .also both will be VA loan through DHI Mortgage. I have a floating interest rate right now because the house is being built and you can only lock in a rate for 60 days ..so the loan officer said she will do that this month.... my question is should I be worried? My credit is good, just too many inquiries and the debt to income ratio. Ugh I go to see the process of the house being built every week. I just want this yes or no answer on final approval so I can rest easy.
