Manual Underwriting for mortgage?
My mortgage received underwriting approval with conditions (gift letter, appraisal etc.) After the title search the taxes came in higher then my lender first calculated (approximately $ 120 per month) – the lender now says that it has pushed me to manual underwriting. I am applying for an FHA loan. I have documented income of $ 86k, my mid score is 612, I am applying with Countrywide. Am I setting myself up for a let down. I have about $ 5k in credit cards – no lates at all but discharged bankruptcy in the past which brought my score down. Any advice would be helpful.
She called and asked for my landlords info – I am not so worried about the info check because I was completely honest – I just got nervous that this was a bad sign. Thanks!