Q&A: What are the odds of an FHA home loan being denied in underwriting?

Posted on Mar 7, 2013 in FHA Information

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Question by Rob I: If I filed a bankruptcy back in July 2007 and I had applied for a mortgage from a credit union?
What do you think my rate and monthly payment would be if I only put 5% down of say for a mortgage of $ 90000 dollars? If you don’t have a lot to put down, visit what are my other options?

Best answer:

Answer by Glenn S
You should be able to get an FHA loan with only 3.5% down since your BK was over 2 years ago. You will need a FICO score above 580, for sale but more likely above 620.

Most credit unions don’t make FHA loans. Your interest rate will not be effected by your BK. Expect to pay 3.5%-4.5% range.

What do you think? Answer below!
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fha home loans
by danielmoyle

Question by Andrea P-mom of four boys: What are the odds of an FHA home loan being denied in underwriting?
I’ve been told once it reaches underwriting, approved you’re good. I’ve also been told nothing is guaranteed until it comes out of underwriting. How often do home loans get denied once they have reached underwriting?

Best answer:

Answer by MadMan
Not true. Any mortgage can be denied up to the day of closing. How often does this happen? Not too often but often enough for people to be caareful.

Know better? Leave your own answer in the comments!

4avg.rating 21 votes.


  1. Odds are very good. Your mortgage approval can be denied right up to the moment of the closing.
    That is why the recommendation is to NOT use your charge cards, don’t take out any loans, don’t change jobs and so on. Do nothing that changes your qualifications

  2. No one can tell not knowing your specific information.

  3. Until you have closed this transaction, you can be denied.

    Underwriting is one of the final steps, but you are by no means “good” at this point.

    I have heard all kinds of crazy things that people have done just before a closing because they think they are in the clear. Quitting jobs, buying a car, charging thousands of dollars worth of furnishings for the home, it is not unusual for a mortgage company to verify that all the information is still current just before they issue funds.

    Nothing is guaranteed until you have closed the transaction.