Loan advice

[monkatom]

Good Morning I was wondering if anyone had any advice on my situation. I had a BK in May 2008 and a foreclosure in September 2009. I am in the process of gathering paperwork for an FHA loan. When I run the numbers my ratios are about 28/44. My credit scores are high 600’s low 700’s. I have a townhome that I am currently renting out right now and it has over $100K in equity. I am looking to get a roughly $475K loan. MY mortgage broker who is a friend of a friend seems to think this will be a slam dunk and I will not have a problem. I on the other hand am not as optimistic. I know that nothing is certain and even people with good credit are getting turned down. My question is if he does get me approved is there anything else I need to do to protect against my loan being denied after I make an offer, etc. I have heard that manual underwriting is useless so I should ask to have an underwriter actually approve the loan? Is this true? If anyone has any advice I would appreciate it. Thanks