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6 months of bank statements?

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jamevfan
Frequent Contributor

6 months of bank statements?

I have to turn in 6 months worth of banking statements and on about 4 out of the six I have a negative balance ending due to my inability to balance a check/debit transactions but I have direct deposit and the over draft is always paid in full, I have changed my habits recently but it has been so recent since I've had one last and didn't know if that alone would disqualify me.......
Current Ficos as of 01/2017 Equifax 640, Transunion 690 Experian 690 Mortgage middle score of 677
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2 REPLIES 2
Anonymous
Not applicable

Re: 6 months of bank statements?

there are too many variables for this to be a yes/no question, but 6 months showing regular overdrafts can easily get a loan app denied.  Ask your LO if they accept VOD (verification of deposts) instead of bank statements.  Some banks will, some will not.
Message 2 of 3
SonorityGenius
Established Contributor

Re: 6 months of bank statements?

Wow 6 months of statements? We had to turn in only 2..

 

negative balances are RED flags to the UW

 

I would send in more paystubs than they ask and also VOD as advised above...but wow 6 months lol  I dont even have one month now (due to electronic)

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