So i am currently in underwriting on an FHA Loan, middle score 616, have 3.5 down on hand plus 3 months PITI these have some age on them in my account (I could be gifted 7k additionally to make 10% down). My DTI with new loan is at 16.6%, my gross income is 6400. But anyway on to the reason that I am posting. I had a 30 day late on credit one in Oct 2014 and a 30 Day Late from First Premier in Nov 2014. From FP I thought the account was closed but it was merely suspended and they were charging me the $ 7 monthly fee but I didn’t realize it. The Credit One I was travelling and forgot to pay until I got home. I had verbal confirmation of a Good will removal from CO just needed a letter, I sent that and I am hoping it should be coming off; but it’s still showing. FP has sent me several letters back and fourth but the last letter seems to indicate that they will remove it.
The LO when reviewing my file didn’t mention these, the apprasial got done this week and I know the underwriter is reviewing the file. Is this gonna kill my app? Can a large down payment compensate for these two 30 day lates?