my fha loan has went thur underwriting and when they was putting it into the computer they found out that i had a 2500/deductable when i needed a 1000/deductable that made in insurace go up 600 dollars a year do you think this will be a problem. do you think the loan will now not go thur im worried can anyone give me a answer
2007-09-16 14:58:03 · 3 answers · asked by jicarlo h 3 in Business & Finance ➔ Renting & Real Estate
No, as long as you stay under F.H.A. 43%, debt ratio, all that did was make the U/W re-figure your qualifying ratio's. Once that happens, the U/W has to notify the processor. F.H.A. loans require full coverage, mith no more then $1,000.00 deductable. So they had to tell you , so you would have an acceptable, approvable loan. Your ins. co., upon your approval, will revise thier deck sheet and barring any problems, you will be closing shortly. Good Luck!
2007-09-16 15:17:43 · answer #1 · answered by Anonymous · 2⤊ 0⤋
I wouldn't worry a lot, unless you were very close to not getting the loan in the first place. The difference is $50 a month, not a huge sum.
Good luck.
2007-09-16 15:27:32 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
I don't forsee a problem for you.
2007-09-16 15:04:02 · answer #3 · answered by karenmbs 4 · 0⤊ 0⤋