Question for Shane or Dallas

[deniel560]

Hi guys!

I was pre-approved for a FHA loan back at the begining of June, finally found a house and my offer was accepted(YAH!!). My main question now is that they have requested updated bank statments, which is okay...but...I have been sorta lazy latley. I work for the bank, so they do not charge me a fee to transfer funds from my savings to cover my checking. There has been quite a few times that I have just let the bank do the transfer for me, the problem is the wording on statments say's "Savings Overdraft Coverage Transfer". I have plenty of money in my savings to cover all transactions....could this be a deal killer?

[DallasLoanGuy]

the loan officer may be able to get a vod(verification of deposit) and submit that to undrwriting instead.

not necessarily a deal killer.

[deniel560]

Thanks for responding! I really appreciate it! I am hoping that the rest of my file is good enough that they will be okay with it...I will check with my loan guy about a VOD. If you wouldnt mind would you let me know if I sound like I am in a good position?  My Mid Fico is 723(only 1 30 day late 5 years ago), Monthly income is 4475, debt is 475(305 car, 170 cc), The house is 190K I am putting 5K down and have DPA in the amount of 53,300 (will help with closing costs as well). The Loan is for 140K I believe at 6.5%. The GFE PITI is at 1,123. Thanks in advance for any feedback you may have!

BTW...I have been reading these forums since I began the process of building my score back in Feb(was 640) and I have to say...you guys ROCK!!!

[DallasLoanGuy]

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deniel560 wrote:

Thanks for responding! I really appreciate it! I am hoping that the rest of my file is good enough that they will be okay with it...I will check with my loan guy about a VOD. If you wouldnt mind would you let me know if I sound like I am in a good position?  My Mid Fico is 723(only 1 30 day late 5 years ago), Monthly income is 4475, debt is 475(305 car, 170 cc), The house is 190K I am putting 5K down and have DPA in the amount of 53,300 (will help with closing costs as well). The Loan is for 140K I believe at 6.5%. The GFE PITI is at 1,123. Thanks in advance for any feedback you may have!

BTW...I have been reading these forums since I began the process of building my score back in Feb(was 640) and I have to say...you guys ROCK!!!

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things look fine.

i dont see anything out of line