Home Buying in Muldrow>Question Details

Feelinghopel…, Both Buyer and Seller in Muldrow, OK

Can anyone explain being denied for an FHA loan based on to long of a wait after my second child was born. SHe just turned 4 this past month.

Asked by Feelinghopeless, Muldrow, OK Fri Sep 23, 2011

We were quailified for the out grew the home exception. With doctors notes for husbands sleeping disorder why we can sleep together. The children by law can't share a room. we also have 79 % loan to value of the current fha loan. Because of easments and set backs couldn't add onto the house. Our second house is double in size and has an other bedroom, so i can get off the couch. How are they able to deny us when our loan officer said we were a slam dunk. Can anyone help or explain?

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If you have a FHA mortgage, most underwriters are careful about approving you for another. You state childen by law cannot share a room. I have never heard of such a law, is that a state law in Oklahoma or a local law for Muldrow?
I assume you feel you cannot sleep in the same room as your husband because of his sleep disorder. If I was the underwriter I would question your explanations. Did you quote the law in your explanation letter? How about why you can't sleep in the same room? Did you explain why you aren't selling your current home.
If you sold your current home, you would find getting any mortgage easier.
Your bad experience just reinforces that most mortgage officers don't have their preapprovals underwritten.
0 votes Thank Flag Link Fri Sep 23, 2011
That doesnt usually sound like a reason for being denied, denuials usually come from lack of income, too much debt, not enough time at job, poor credit score, not enough money for down payment or closing costs or the appraisal fails due to price or condition.

You should call your loan officer for a detailed expanation. good luck working things out
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Fri Sep 23, 2011
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