These darn realtors and lenders are going to drive me insane.
Realtor pushed us into apply through their local lender. Local lender wont approve us for a conventional only for a FHA (which is hard to vet accepted in our market). We are already approved for a conventional through a national credit union via HomeReady.
Now the local lender is calling bs on the preapproval from the credit union based on our income being too high to be approved via HomeReady.
We did go to in-person underwriting (i guess manual) twice. We gave them all our paystubs, w2s etc. available up until the day we were approved and added more when we were approved for a higher amount.
National credit union has our income at 91k. Local lender says income limit for our area is 72k (Sacramento).
Am I missing something here? How did we get through underwriting TWICE if we made over the program’s limit? Is there some magic trick/industry secret being used?
One thing that may shed some light: I have a salary while my coapplicant works 3 part time jobs (always has). So maybe they arent including one of the incomes from a part time job in the calculations?
Or is the local lender right and the national credit union messed up?