Mortgage approval with conditions

[Anonymous]

Hello, 

My mortgage application first was suspended and my loan officer restructured my application.   My concern, after submitting all the conditions as requested, can the UW come back with more conditions or even request more money down?  Im just thinking the worst.. since I was stumped about my application was in suspended status. 

[CreditInspired]

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@Anonymous wrote:

Hello, 

My mortgage application first was suspended and my loan officer restructured my application.   My concern, after submitting all the conditions as requested, can the UW come back with more conditions or even request more money down?  Im just thinking the worst.. since I was stumped about my application was in suspended status. 

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Hi and welcome to myFICO,

Yes, the UW can come back with more conditions. However, since we don't know the type of loan you are applying for or your stats/DPs, it's difficult to answer whether the UW will ask for more money or not. If you want to provide us with your DPs, we can provide more specific answers.

[JVille]

Conditions are requests for additional information or letters of explanation. Yes after an underwriter reviews the extra info they requested it can lead to a request for further information. Example might be a Condition initially asked for one more bank statement. You provide the bank statement and the statement has a deposit of $3500 on it. So now the UW wants documentation about that $3500 check.

So providing info can absolutely lead to further questions and conditions.

[Anonymous]

I applied for an Fha loan. My credit score is 630 not sure what do you mean dp? This is all new to me.

[Anonymous]

Okay.. I don’t mind more doc request. I just hope they don’t ask for more money like reserves and etc. LO said no.. but you never know

[CreditInspired]

DP are data points.

What are your 3 FICO mortgage scores?

What is your DTI - debt to income?

What are your minimum payments on CCs combined?

What is min pymt on student loans, vehicle loan, any other kind of loans?

What is the AoYA - age of youngest account?

How many inquiries in the last 12 months?

How many new accounts in the last 12 months. This info will give us a starting place.

[Anonymous]

My credits 648/631/609
Total cc $274 per month
Student loan $846

mortg amount $275k down pmt 3.5% total closing cost $22k

[Anonymous]

Also I make $78k per year