Home Buying in Lambertville>Question Details

Neil, Home Buyer in New Hope, PA

USDA Debt to income ratio waiver question

Asked by Neil, New Hope, PA Sun Aug 23, 2009

I have been approved for a 240,000 USDA Guarantee loan. My DTI ratio is okay, not exactly sure what my broker came up with there but she said it was "fine". So No waiver was needed for the initial 240,000. I need an additional 10,000 in order to buy the house I want. I have an additional income of around 5,000 per year that was not included since i have not been doing it for two years just yet.
My question is has anybody who has had experience submitting a debt to income waiver form with USDA i would appreciate your insight and experience doing this. How much? were you approved? Rejected? Any brokers who have handled this or anybody who has gone through this process please share your experience. Can I call the USDA rep in my area myself and would this help my chances?

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