I am more than happy to offer free advice to all readers. Please post your questions on this page and I will assist you with my years of knowledge in Underwriting as much as I can.

1,276 thoughts on “Q&A

  1. Heather on

    Hi my name is heather and I am in the process of buying a home under fha my loan office states for a automatic approval I am at the highest for my DTI and I have a car payment that I co-signed with my boyfriend and he has made every payment since we got the car but I’m the primary loan holder of car because his credit wasn’t good enough will under writer have a problem with me not showing payments for car on my bank statements or will it not be an issue

    • Underwriter on

      Hi Heather. Is your DTI already approved by including this auto payment? And no, as long as the payments were made on time, it is not an issue at all.

  2. cynbaby on

    i just received letter that I owe 2300 in back tax. my file is currently in underwriting. I applied for fha loan. will they make me pay back first?

    • cynbaby on

      the tax year 2015. should I apply for the payment plan or wait?

      • cynbaby on

        should I contact my LO to let them know about this. I amended my tax, which I did give to the LO. irs just responded back to me with my amount due. I close sept 28th… I’m a nervous wreck

  3. Carmen on

    My partner and i got preaprove for our FHA loan we both owe taxes we are in a payment plan he did pay off part of it but still owes and is till on a payment plan i am also in a payment plan as well will this affect us to getting the loan approved by underwriting i am so nervous because this is my second payment and i dont know if this will affect us.

    • Underwriter on

      Hi Carmen:

      Lenders will ask you for a copy of your payment plan and proof to support that you two have been making those payments on time. Then, they will include both monthly payments into your debt to income ratio. As long as it is under 50% and you have been making IRS payments on time, you do not have anything to worry about.

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