wellsfargo underwriting

[Anonymous]

Good Morning,

Applied for the pre-approval Jan 11 with Wellsfargo. Had to go to an official approval for pre-approval (w2,paystubs,underwriting, etc.....). Was approved for FHA loan.

Found house (foreclosure) needed a 203k fha loan instead. Has meet all of the conditions (so far). Closing is scheduled for 3/27/12.

Because it was approved in underwriting previously should I be worried. How different is the 203k fha vs the regular FHA.

Does anyone have any experience with Wellsfargo and or underwriting.

Update: Paperwork in UW (yesterday) waiting on response

[creditisbetter2]

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@Anonymous wrote:

Good Morning,

Applied for the pre-approval Jan 11 with Wellsfargo. Had to go to an official approval for pre-approval (w2,paystubs,underwriting, etc.....). Was approved for FHA loan.

Found house (foreclosure) needed a 203k fha loan instead. Has meet all of the conditions (so far). Closing is scheduled for 3/27/12.

Because it was approved in underwriting previously should I be worried. How different is the 203k fha vs the regular FHA.

Does anyone have any experience with Wellsfargo and or underwriting.

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I googled this topic a while back because I was interested in a rehab home for a short period of time. Here's a brief description of what you are asking about: FHA's Streamlined 203(k) program permits homebuyers to finance up to an additional $35,000 into their mortgage to improve or upgrade their home before move-in. With this new product, homebuyers can quickly and easily tap into cash to pay for property repairs or improvements, such as those identified by a home inspector or FHA appraiser. You may want to do a search on this website, there are tons of other threads. Here's one to get you started: http://ficoforums.myfico.com/t5/Mortgage-Loans/FHA-203k-Streamline-Loan/m-p/998166#M79589