10-03-2012 09:38 AM
I am currently under contract, set to close on the 30th. I am doing a 15 year convential loan through everbank at 3% with 20% down. I have 2 bank accounts, one that I recently closed, it was with BOA and they are crazy with the updrafts. This account I dont have any of the downpayment in, do I still need to show it. Oh and has anyone have heard of Everbank? I could go local but they gave me good rates.
10-03-2012 11:00 AM
I have never heard of Everbank, but with regards to your overdraft question, you need about two statements that are clear of overdrafts. If at no point did the BofA account hold any of your downpayment money you don't need to show them this account.
10-03-2012 11:04 AM
I have heard of Everbank. They are in the (Kroger) supermarkets here in GA. Don't know anything about them or their services though.
10-03-2012 09:10 PM
That is what the loan officer told me, but I know that some banks want all that information, not just some. It would not be an issue if some of my check was going to the account and it was on my check stub along with the other bank as well. My loan officer said they just want to see 2 months of those statements but the underwriter may change is mind. The account is recently closed. It will reflect on my next checkstub.
10-04-2012 05:27 PM
it all depends my wife lost her job while we were under contract and caused us to overdraft all we needed to do was get our bank to write a letter saying that its not a common occurrence and the underwriter never asked anything else about it
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.