11-21-2012 07:31 PM
11-21-2012 10:12 PM
My paycheck is deposited into he family joint account. I have a separate account that I use for "fun money" which is about 10% of each paycheck. I usually end up spending most of it so the balance is usually low in that account. Will that look bad to the underwriters and/or LO? The joint account is built up fairly well.
I am assuming they will be able to tell where the rest of the paycheck is. Will I need a letter explaining the transfers?
You will need to provide at least 2 months of bank statements and yeah I would use those since that is where part of your income goes.....shouldnt be a problem as long as there are not any random deposits or OD charges....and at most you may need some LOEs
11-22-2012 08:00 AM
11-25-2012 09:02 AM
The other joint account holder is my husband, who will also be on the mortgage. Will I still need a letter?!
No but the are going to request statement from that account as well.