Hi all!
I am having some issues with a USDA loan and needing to ask some questions......
My debt to income is fine,
They are just having issues with how much money I have in the bank. Usually out of each check I have about 500 extra.
But the lender is not wanting to see the $500 dollars they are wanting to see $2000 in the bank.
I get paid the 1st and the 15th, I really don't have much debt.
The first check I pay rent, and from that check I have 750-800 left over. My payment for housing if USDA is approved will go up 400$ (including taxes and insurance). Also my boss has sent in all verification of my raise that will be shown on my next paycheck..... which I understand they can't really use it yet, but they did ask my boss for that verification. So after the raise and new mortgage I'll have 600-650 left over.
The 15th check, I pay car payment ($364) utilities (145$) cable ($127-135) car insurance ($103, after the mortgage bc of the homeowners insurance it will go down 30$), cell phone ($200) and from there I usually have $500 left over.... depending on if utilities is more or whatever....
Just wondering if this is normal for a bankstatement to hold this up?
Credit is fine, but NEW! Like maybe a year old. Built my credit this year...... using rent and cable/internet as non traditional trade lines.
Oh no nsfs, no bankruptcies, no collections......
Just my money in my account..... making me a nervous wreck like I never get this approved!