What do you think - Returned Check ??

[momma3boys]

We are wanting to apply for mortgage ASAP.

Here is our situation.

The house - 3000 sqt ft house built in 2009 asking price 320k on 40 acres, house has been for sale for 4 years, we would offer no more than 260k

Income - 98k gross (my 44k salary, hubby 54k hourly paid, includes guaranteed overtime)

Fico's - we prequalified last month with large bank that we will not use, scores were 785 & 786

Debt -

   Car 1 - 410

   Car 2 - 580 (we will sell this prior to applying)

   Car 3 - 140

   ATV - 257 (might sell, 6 payments left)

   CC - 200

  Student Loans - 560

Assets -

  401k 1 - 34k

  401k 2 - 20k

  Stocks - 8.5k

  Savings - 6k after selling assets

Taxes - 2800 per year and 850 insurance

Here is my major concern - I made a CC payment in July for 1700 and I miscalculated my checking balance - the payment was declined and returned.  I immediately covered the amount and paid the full amount.  If I applied now, this would show on the last 2 month account statement.

Should we wait another month or would we be ok now?

Thanks!

[ezdriver]

Wait until it no longer shows up on your statement. You don't want to get into writing letter of explanation etc.

[Anonymous]

That could be up to a year, as all your statements for a given year will include at the bottom the total overdrawn in a given month and the running total for the entire year.

Better to just write the letter now.

[DallasLoanGuy]

1 minor indiscretion in an othrwise strong file? 

apply

[Anonymous]

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@DallasLoanGuy wrote:

1 minor indiscretion in an othrwise strong file? 

apply

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Agreed. LOE and you are fine.