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FHA Loan and Payday Loan

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paepae805
Member

FHA Loan and Payday Loan

I submitted my bank statements for FHA approval on a house I am purchasing and on my bank statements were my final two payments on a payday loan I had to take out 4 months ago.  That didn't appear on credit report and it is now paid in full and closed.  Will underwriter question that if they look through my statement item by item or are they looking more for deposits that can be verified.  Thanks

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1 REPLY 1
09Lexie
Moderator Emerita

Re: FHA Loan and Payday Loan

If they ask ( which I doubt) just wrote a letter of explanation.
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