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mschille
189 Posts |
 Posted - 05/09/2008 : 07:32:37 AM
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| VA loan, 574 score, need 100% dti is 40, have two lates, one thirty day late on a car within the last 12 months, 1 on a student loan within last 12 everything else is current. Loan is in Indiana, purchase 145k. Need some help. |
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Banker0679
6354 Posts |
Posted - 05/09/2008 : 07:43:49 AM
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| what did the AU say? |
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mschille
189 Posts |
Posted - 05/09/2008 : 07:44:58 AM
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| can't get it approved au, i need a manual underwrite |
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jpar994
617 Posts |
Posted - 05/09/2008 : 07:59:01 AM
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i think the late on the student loan disqualifies you because it is a federal loan. IF it is not a federal loan then you may be able to figure it out!
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Banker0679
6354 Posts |
Posted - 05/09/2008 : 08:01:54 AM
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| U/W's are really picky when you're late on student loans |
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mschille
189 Posts |
Posted - 05/09/2008 : 08:51:25 AM
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| yeah the au findings just say the creditworthiness of the borrower isnt good, nothing specific more than that. |
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MisterVA
4568 Posts |
Posted - 05/09/2008 : 10:02:04 AM
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| When do the lates become 12 months old? That should be your target date. |
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mschille
189 Posts |
Posted - 05/09/2008 : 10:10:21 AM
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| not until end of 08, he had lates in dec. 07 |
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MisterVA
4568 Posts |
Posted - 05/09/2008 : 10:39:47 AM
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| Tell him to keep his payments current with no more lates till December before applying. And he should keep paying them when due after that too in case he gets any bright ideas. |
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