Occasionally I am surprised myself at what we can offer. We never really know until we use the automated underwriting system and that is what makes it a surprise. Obviously if we can sell a loan at a lower rate and still make enough to stay in business and meet our obligations we are going to do so. But today I was really amazed.

Borrower is full doc but makes only enough to qualify for a home. They don't have any other debt like cars or credit cards. FHA would not approved them for this property even though they have steady employment for years and years at the same job, good assets and good income and a decent score but a 60% DTI. One submission through D/U and this:

He is approved - nothing down, fixed thirty 6.25% (APR 6.6%) - AND they accepted his offer at 85% of the appraised value on a home that needs very little work.

You can NOT tell me this is NOT a great time to buy! 

(This is not an advertisement to lend. Rates and terms vary.)