Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
Re: LO& broker pulling my leg or real hope?

stopdrpnro wrote:

planned on  doing a little more  rebuilding  before trying to puchase a home but  was pre qualified  by a  LO at wells fargo.  I have lates from my student loans (were supposed to be in defferment)  that are only 6 months old (accounts are all caught up and current now) .  picked a property, threw down the earnest money , got the gfe a few days ago, waiting on the underwriting. By my calculations my  dti would be  around 43%(current obligations+mortgage).  my scores are hovering in the 638-647 range.  on the  plus side  my  last  60 days of statements show i have enough liquid assets to pay  about 4 mons of the mortagage  and  I have another 9 mons of mortgage payments stuffed away in my 401/457.   After doing a ton  a reading here i'm  thinking the recent lates are gonna shut all this down and the wells fargo LO is just blowing smoke with his fingers crossed. what do you guys think??

From your post it seems as though you are really close, the only concern is those student loans which you say were supposed to be in deferrment.  Just hang in there and be optimistic but realistic as suggested by the ever wise Booner72 :smileyhappy:

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