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?

Your chances are very high. It looks like a slam dunk loan. Although your scores aren't too great, you still have that 10% down payment if necessary. I believe the My Community program if you qualify is 100% financing and you can have a score as low as 620, the scores you showed are higher, your middle score is 634.

My Community is not a stated income program. It sounds to me like it should not be a problem for you to get approved, all things being equal. The underwriting process can take a bit of time, so try not to sweat it. Particularly these days, many of the processing centers are backed up. Washington Mutual told me the other day to expect an 8 day turn time for a submission!You should be fine...