FHA NEEDING CANCELLED CHECKS FOR APPROVAL?

[Jess421]

Hello all, I am currently working on my credit in order to hopefully qualify for a mortgage once my scores are good enough.  My question is does anyone know if FHA now requires 12 months of cancelled checks?  I currently pay with cash and am wondering if I need to switch to checks.  I am confused becaue my friends just bought a house FHA  loan and they did not have to provide rental history. 

[jadeite788]

no, all they need is W2 and tax return of previous  year and current year along with bank statements (1-2).  Make sure you don't have any OD's though.

[Mike_B03]

It depends on the lender and other factors of your loan. For some people, rental verificaion via cancelled checks will be required, for others, it won't be. If you can pay by check instead, I would do that, just in case they do ask for it.

[Jess421]

thanks for the advice, I am going to start paying via check just incase.  I am assuming that this will be a requirement of all lenders in the near future.