What is my chances of Mortgage approval in this crazy Market?

I have a file in underwriting with CITI Mortgage. My credit scores are 648,634 and 622. My DTI is around 18%-20%. I have 0 late payments for the last 3.5 yrs.I have been employed in the financing dept. field for 9 yrs. My Broker stated that I possibly could qualify for the My Community Mortgage Program and a stated income loan for first time buyers. But if not I have a 10% down payment on a purchase price of $ 181,900. The sellers have agreed to a 3% sellers concession ($ 5,457) for all closing costs. The file went into “Processing” Status today around 1:30 p.m. I didn’t get an answer today. Now I can’t stand the wait over this long weekend. I’m looking for anyone with some information on my chances of getting approved for this loan?

I am 20 yrs old I bought a duplex 4 months ago for 147,600 its appraised at 148,000 so I got it at top dollar. I got financing on 80/20 80%@7.5 adjustable rate (will go up in 2 years guaranteed) and 20%@10.75 fixed rate. I will be paying interest for the first 2 months. I am losing $ 200 on this monthly w/ tenants living there. It’s suppose to be my primary residence. Refi penalty for the 80 loan is $ 3600 and no penalty for 20%. So my question is I got a loan on stated income, I figured I am losing $ 200/month*24=4800 in 2 years interest only from my own pocket. If I refi now $ 3600 penalty and maybe $ 3000 closing cost (estimation) so that’s $ 6600 loss which I can live with 6600-4800=1800 difference I can live with that. But if I refi 30 yr fixed rate I have very low income i am a college student can I get possibly better rates to lower my down payment, I want to refi 0% down fixed 30yr rate is that possible? I want some advice plz I don’t want to go bankrupt in 2 yrs when rates go up!
I’v been reading lately on the internet about
the dangrous 0% down ARM loans mortgage companies
give out so easily, I thought I was just a lucky one
pft, no way, I got caught into it. But I want to keep
the property I don’t want to sell. Are my numbers correct
or am I just a bad dreamin investor wannabe? My credit
score when I got the loan was 700, I’v been paying
everything on time so it should have gotten up there
I hope I can get the fixed loan. I deeply appreciate
your advice. Thank You in advance

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