@Anonymous wrote:
I just can't freaking win. Found out yesterday 3 days before we were to close that USDA has submitted my file for a full review audit. I just want to die. I can't handle anymore of this not knowing.
643 midscore
5/21 pre-approved for 190k
5/22 we put offer on house 188k
5/24 offer accepted (negotiated a couple times)
5/26 went into full contract
Had a few back and forth minor conditions to be met nothing major proving 401k, and reserves, etc.
6/15 UW approved and sent to USDA for final approval should hear update on 6/22
6/27 Find out USDA selected for full audit review which is why we havent heard anything.
Freaking out because it's almost 2 weeks now with USDA and I didn't think an audit would take this long unless it's a decline.. Not to mention we are to close at 10:30 am Friday....
Pretty similar situation here - due to close next Tuesday, but I got a call from the loan officer today that my file had been flagged for a pre-closing audit. I'm self-employed and a first-time home buyer, so I can't say that I blame them. They basically wanted more than just my word that I've been in my line of work for at least two years (why all the tax returns I sent in didn't do this is beyond me). The officer suggested using 1099s as proof, so I sent in sets for two companies I've worked with forever; a set from the most recent three years, and another set from the same companies from 2003-2005 to demonstrate long-term employment. My loan officer said she thought this would be more than enough, so we'll see.
This, in spite of three 800+ FICO8 scores and a middle mortgage score of 790... Sheesh. And I'm only applying for 144K via a standard mortgage. I'm hoping that the underwriting gods deem my offering worthy and I can get this thing finalized before the holiday weekend. I'm not *hugely* worried, but these last-minute hiccups are definitely starting to shake my confidence.
