scooby21

FHA loans??

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I was decline for an FHA loan because of being on maternity leave, they said "we cannot prove enough income that will allow us to move forward with an FHA approval". I sent in Aug. and Sept. check stubs. In Oct. and Nov. I did not receive full pay because was not at work but had short term disability. I did get full pay in Dec. Is there anything I could do or say to try again to get an approval for FHA loan?

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Were you on maternity leave when you applied for FHA? Are you still on maternity leave now or are you back on the job? Congrats on the baby.

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I was not on maternity leave when I applied. I had just gone back to work. I told this to the loan officer today but still is going through FMA where I have to have 10,000 in account. Can he now go through FHA since he has the update and would I still have to have 10,000 in order to be approved for FHA.

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Each lenders FHA guidelines can be different. I'd say it's worth another try at talking with him, if it doesn't work out, it could just be a lender guideline, and then by talking to another lender who can do FHA you could get a different response.

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Going to a broker instead of a mortgage company directly may be a help. A broker can place with a lot of lenders, and will know the requirements for each.

You may want to talk to a broker first. Take copies of your credit reports with you, and ask that he not pull your credit until it looks like you can qualify. You don't need a bunch of inquiries on your report.

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Each lenders FHA guidelines can be different. I'd say it's worth another try at talking with him, if it doesn't work out, it could just be a lender guideline, and then by talking to another lender who can do FHA you could get a different response.

Shane has good advise - saying each FHA Lender has different guidelines.

Was there an Appraisal done on the property?

Was there a FHA case number assigned?

If a case number was assigned, all you can do is wait it out and continue working with the same loan officer. Once you are registered for an FHA loan, you cannot re-register again.

If you know that no case number was filed, talk to other loan officers. Find out your FICA scores, give new L/O's your credit score not you SS#, to prevent from having your credit reran again and again.....

I just closed two FHA loans with similar circumstances, both had medical conditions that was explained in an explanation letter.

My $000.0002.....xdancex

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