topic Re: Headed to under writing in Mortgage Loans

Headed to under writing

tooleman694 — Tue, 31 Jul 2012 14:18:59 GMT

After getting denied for USDA, can't get a DU approval for conventional im now heading to under writing for FHA.

We are set to close next Tuesday.

660 middle score, and 15 percent down.

Here we go.

Re: Headed to under writing

birjest — Tue, 31 Jul 2012 14:21:27 GMT

why 15%...That is a pretty quick turn around from USDA to FHA. Great on you!!!!

Re: Headed to under writing

tooleman694 — Tue, 31 Jul 2012 15:45:03 GMT

Way above the FHA loan limits. Have to put more down to reach the limits.

Re: Headed to under writing

birjest — Tue, 31 Jul 2012 16:10:49 GMT

That's right. I forgot....I am in U/w right not, and my back end DTi is like 44-48% However, I have a 653 as my mid-score and no late in almost 4 years. If I am in u/w, does that mean I gone through an automatic u/w? I heard that the u/w is for them to make sure your package is prepared correctly to go before FHA...

Re: Headed to under writing

tooleman694 — Tue, 31 Jul 2012 16:32:10 GMT

The way I understand it, the under writing process for automated is very easy. Just verify everything and look for things that might hit an overlay.

Re: Headed to under writing

Anonymous — Tue, 31 Jul 2012 19:40:11 GMT

Good luck Toolman!!

Re: Headed to under writing

JusdoNit — Wed, 01 Aug 2012 06:15:14 GMT

Positive thoughts to you.

Re: Headed to under writing

tooleman694 — Wed, 01 Aug 2012 12:44:51 GMT

My lender is a correspondent, so they under write and fund in house. I should finish under writing very quickly.

Re: Headed to under writing

Anonymous — Wed, 01 Aug 2012 14:15:11 GMT

Good Luck!