Pre-Write LOE?

[Anonymous]

I was wondering if I should pre-write my letters of explanation. My credit is flawless but 2 months ago I paid off my credit card debt of $4,500 and have a feeling they may ask why I made such a large payment. Is it better to submit that to my lender now so we save time? Or wait for underwriting to come back with a request so I don't open a "can of worms"?

[JediNeo]

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@Anonymous wrote:
I was wondering if I should pre-write my letters of explanation. My credit is flawless but 2 months ago I paid off my credit card debt of $4,500 and have a feeling they may ask why I made such a large payment. Is it better to submit that to my lender now so we save time? Or wait for underwriting to come back with a request so I don't open a "can of worms"?

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Greetings and welcome to the forum. You could prewite an LOE, but I would not submit it until asked. Most likely they will not ask why you made those payments. UW would probably only question it if your bank statements/income do not support the funds used to make those payments,

[Anonymous]

They would only request an explanation if the funds that completed that payment could not be sourced. I doubt you have to worry about it