topic Re: Completely Irritated!!!!!!!! in Mortgage Loans

Completely Irritated!!!!!!!!

Anonymous — Thu, 25 Jun 2020 18:23:02 GMT

ok so we have been waiting on final approval after submitting all conditions for over 3 weeks now. Underwriting reviewed income and just now is saying we didn't make enough in 2019 for our ltv and dti to work for our loan. Mind you they have every ounce of paperwork since day one. We haven't received a denial, we haven't received **bleep**!!!! I guess they are trying to see if conventional with 10% down will work according to our loan officer. We initially applied for fha with 3.5 down. Well they said Friday it should work with 10% down. Then Monday they said we should hear something in the next few days. Well here it thursday and nothing. I am so fed up and over all this. Any words of advice.

Re: Completely Irritated!!!!!!!!

Anonymous — Thu, 25 Jun 2020 19:00:59 GMT

I sent you a PM.

That is ridiculous at the 11th hour. Hang in there!!

Re: Completely Irritated!!!!!!!!

BSBRose21 — Thu, 25 Jun 2020 19:11:25 GMT

I'm so sorry!!! We are working through a FHA mortgage loan too. Our closing is 7/10 and stipulations/conditions keep coming in. It has been a very slow process, for sure.

I hope someone is available to help you finish this off soon!

Re: Completely Irritated!!!!!!!!

Anonymous — Thu, 25 Jun 2020 19:30:41 GMT

Hopefully one of the mortgage master gurus will weigh in shortly with some solid advice regarding your next move!

Re: Completely Irritated!!!!!!!!

Girlzilla88 — Thu, 25 Jun 2020 21:25:51 GMT

That sounds like Hedes to go through. Sorry to hear and hope it all gets resolved quickly

Re: Completely Irritated!!!!!!!!

Anonymous — Fri, 26 Jun 2020 05:57:49 GMT

UPDATE: spoke with our loan officer around 3 and they stated that underwriting came back with a final decision of a conventional loan with 10% down instead of the fha 3.5% what we applied for. We were told to bring in gift givers last 2 months bank statements showing the money is available and our last 2 months bank statements to show current balance. By the grace of God, my mother in law is gifting us the money. Gonna turn in documents tomorrow and pray for the clear to close.

Re: Completely Irritated!!!!!!!!

BSBRose21 — Fri, 26 Jun 2020 11:48:03 GMT

Why was your fha loan denied with the 3.5%? I thought dti allowed was higher on fha versus conventional.

Re: Completely Irritated!!!!!!!!

Anonymous — Fri, 26 Jun 2020 14:59:34 GMT

According to underwriting for 2019 my husband did not make enough. He works 80 hours a pay period but I guess it didn't average that last year. Our purchase price for this house is 249,000. Middle score of 671. And he's only been employed 19 months.