Q. I applied for an FHA loan after my ARM adjusted to an unruly amount. The loan went to the underwriter and was approved as submitted at 6%. But then rates went up, and the broker said when they resubmitted it through an automated system at 6.75%, it was not automatically approved. The broker told me I would have to wait for rates to lower to 6% to sign. I don't understand why they can't call the underwriter that reviewed the loan and gave the approval. The broker said they can't have the underwriter look it at even though I'm approved. This makes no sense to me. Can you please help?

A. It appears that the rate increase, which occurred before you closed on the loan, raised your monthly payment to a level that was outside the FHA's debt-to-income ratios.

For instance, the FHA will not allow your monthly mortgage payment to be more than 31% of your gross monthly income. So, if you earn $36,000 a year, or $3,000 a month, your monthly mortgage payment could not be more than $930 plus taxes and insurance.

Or you can figure it another way.

Your monthly debt (mortgage, credit cards, auto loan, student loan, alimony/child support or any other monthly obligation, but not including food, clothing, transportation and so forth) cannot exceed 43% of your monthly gross pay. Going back to the $3,000-a-month gross, 43% of that would be $1,290. Once the mortgage was paid, there would be little left to pay for your other recurring expenses.

Unfortunately, you should have locked in your 6% rate when it was offered. Once a rate is locked, it can't change, no matter how high mortgage rates go. But if mortgage rates fall, you also can't take advantage of lower rates.

It appears that you may have to wait until mortgage rates go back down, which they probably will in time -- no guarantee when, however. Or you can work on reducing some of your debt so you can get approval.

Ask your lender if the debt-to-income ratio is the problem and what you might be able to do to improve it. Your lender knows the details of your credit history, income and so forth, and would be best qualified to make suggestions.