Aaacckk!! Made a mistake 3 months prior to closing! Should I stress?!?!?

[ccubedzx3]

Here are the specifics:

Me:

Income- $83500 (average last 3 years)

Debt- $2600 on a $2700 Wells Fargo Card

Assets- $24,000 401K

Middle Score- 658 (score analyzer predicts 690's if paid down to 3%)

Wife:

Income- $73000 (average last 3 years)

Debt:

1. Student Loan - $127/mnth ($32,000 balance)
2. Car - $415/mnth ($9000 remaining)
3. Car - $215/mnth ($7000 remaining)

Assets: - $11,000 401k

Middle Score- 705

Combined- No mortgage, sold house last month, currently living with family until completion of new house May 2013

$857 Month in debt/ $13000 Monthly Gross= DTI is about 6%

The mistake is this, My wife overdrafted our checking account last week, and I managed to get the fee waived, but the overdraft will stay on the statement.  I am pretty sure it will be on one of the statements we submit when we re-app next month.  We added funds as soon as we realized our mistake.  Will this cost us our FHA loan? We have no late payments in over a year.  I'd hate for this to ruin our chances.  Please advise, or ease my mind!! Thank you!

[tooleman694]

Yeah I did the same exact thing, went over draft on checking by mistake and they wanted to see the bank statement.

They made me write a letter explaining what happened. No big deal, it happens. We are human.

[DallasLoanGuy]

that is why you have overdraft protection.... for the times you cant move money before a bill hits the account.

simple letter explaining should suffice.

[JM-AM]

Just as mentioned a LoE is usually all that will be required.