When it gets to an underwriter they will probably see the negative balances and require a letter of explanation (LOE). Basically what they will need is a brief statement of why the money wasn't available at the time and what is different now. The inability to cover ones expenses prior to adding the mortgage and related homeowner expenses is going to be scrutinized but if you can show a consistent savings and reserves going forward you will be OK.
Starting Score: 500's
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