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RIDINGLA
47 Posts |
 Posted - 05/29/2008 : 12:31:04 PM
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Ok so FHA is not score driven yet I can't find one lender to do this because of the score. The borrower has a 635 and the coB is 450. No lates and plenty of assets, I'll do R&T or C/O to keep it from adjusting. The loan is in CA.
Please no hard$$ comments because they can't afford those rates.
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IFox
315 Posts |
Posted - 05/29/2008 : 12:32:54 PM
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| What if you took off the coB what would the DTI be? |
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RIDINGLA
47 Posts |
Posted - 05/29/2008 : 12:42:05 PM
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| DTI is about 60% and with a BK 3 years ago I don't think it will slide through DU. |
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fsboguy
3690 Posts |
Posted - 05/29/2008 : 12:45:15 PM
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| Drop it and move on. That thing ain't closing anywhere. They are a 450 for a reason. |
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steela
186 Posts |
Posted - 05/29/2008 : 1:08:32 PM
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drop the co-borrower, go conforming on the 635 on a 40 year. cash out payoff debt if need be.
If the DTI is 60% FHA on a 30 with MIP it's gotta be below 55% on a 40 conforming.
Buy the sucker down! |
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