Conditionally approved in underwriting.
Ok credit (mid score 640,) same job since 2017 with progressive income increases; I have an open store account with a balance I pay the mins on each month trying to build history and some small CC's with $0 balances. Manual underwriting due to chapter 13 that I voluntarily dismissed when things were finally under control post big medical diagnosis (and bills) and subsequent attorney fees tied to a child custody issue. LOX was asked for on those, plus some NSF's.
The issue I am losing sleep over: I screwed up and was playing around with my excel sheet budget and ended up adding income in twice without noticing it (smaller income that comes in every other week - not my main source.) I fixed it after noticing it in January where I had two (I wasn't checking my bank account as regularly as I should have to balance it.) February I had none (but also had higher deposits due to a tax refund and a refund from a school I didn't end up attending - I also don't see where I screwed up the data here,) but then in March I had two because I missed editing a cell in excel (reverting back to old formatting/formulas.) They asked for the LOX after the March NSF's had occurred, but had not yet asked for my transaction history for March. After I sent the LOX, they wanted a transaction history to see one more month of child support payments to me.
Totally my screw up, I wrote that in the letter where they asked about January, and how I fixed it (fixed the cell and locked them from editing.) That said, do I pre-emptively write a LOX for March or just leave it until underwriting reviews and asks for it? This is a huge bolo on my part - all because I was trying to make my life easier using some new formula and a new layout on my excel budget spreadsheet.
Biggest question to loan officers/underwriters: Is this usually seen as a deal killer? DTI is under 38% including living expenses, residuals are 10X what the VA wants; current home sold and will net over $200K from that as reserves. No late payments on anything the past two years; $0 CC debt. Just this massive screw up. @VALoanMaster your expertise here would be welcomed
