Turned down by Underwriter for FHA loan

Profile picture for diamantekerr
Turned down for 2 reasons.  My debt ratio is 43%.  It is too high, they require 30%.  House was subject to flipping. (Was bought off market for 53K and was selling again for 73K after 5 months.  They suggested I go through a smaller institute  (bank) with fewer guidelines.  Any suggestions?  I WANT THIS HOUSE!!! HELP!!!
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September 15 2010 - Slidell
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Profile picture for Metro Indy Expert.
Find a mortgage broker,they always have numerous lenders they can shop your loan to until they find someone willing to take it on. It's not that hard.
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September 15 2010
Profile picture for diamantekerr

I don't have more to put down but I will try to contact a Credit Union.

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September 15 2010
Profile picture for John Squier

Do you have the ability to put more down and go with other financing? Maybe consider talking to a Bank or Credit Union???

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September 15 2010
 

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