FHA help

[Anonymous]

Were in the process of buying a new home. Tentative closing date 8/31/15. Submitted all documents. Credit score 640s mid. Spoke with loan processor (no red flgs) on Friday and she submitted loan to underwriter.
I have 2 problems. Cant use my income as deposit d/t large deposits. Getting gift funds to cover.
Collection account from dec. (Lo says no problem) I'm worried.
How can we prove that we have money if I can't use my bank accounts?
My husband deposits money into our account from his business but he's not on the loan.
My main concern is proving my assests. How can I use the deposits from his buisness?

[DallasLoanGuy]

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@Anonymous wrote:
Were in the process of buying a new home. Tentative closing date 8/31/15. Submitted all documents. Credit score 640s mid. Spoke with loan processor (no red flgs) on Friday and she submitted loan to underwriter.
I have 2 problems. Cant use my income as deposit d/t large deposits. Getting gift funds to cover.  doesnt make sense. your payroll deposits can ABSOLUTELY be used for down payment and closing costs. 
Collection account from dec. (Lo says no problem) I'm worried.  how much is it? if approved thru automated underwriting then it has been addressed. 
How can we prove that we have money if I can't use my bank accounts?
My husband deposits money into our account from his business but he's not on the loan.
My main concern is proving my assests. How can I use the deposits from his buisness?  that is a tough one. you would have to have tax returns on him and business to prove this is allowable. not enough info here

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[Anonymous]

The deposits made were not payroll. My husband frequently deposits money into our accounts from the business when he pays his self.
The collection account is 2800. It's my only collection. I'm not sure when the automated underwriting takes place. I do know he added the 5% to my dti.
His business has only been open for a little more than a yr so we only have 1 yr tax returns.

Basically I was starting to get prepared to buy a house. Found one unexpectedly so I applied. Hopefully it works out.

[DallasLoanGuy]

i think if you can show a history(pattern) of him making these deposits, then you will not have a problem