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Posts: 74
Registered: ‎06-11-2012
USDA Guaranteed Bank Statements HELP!

USDA Guaranteed Loan Journey (so far)


10/08 Submitted Offer

10/09 Received Counteroffer from Seller

10/10 Countered/Received Counter/Accepted (under contract)

10/15 Home Inspection

10/19 Met with loan officer; reviewed/signed all mortgage applications; provided all docs requested

10/19 Home Inspection report received (long story, but our home inspector was terrible, complete waste of money)

10/22 Received request from loan officer for additional documents (one of which is a bank statement for August (so that they have 2 months—I’ve already provided the September statement))


And, we’re still waiting for a LOMA to be granted from FEMA; decision has been made, so expecting it any day—all indications are that the home will be removed from the flood zone.


My dilemma—that stupid August bank statement.


Here’s the deal—hubby and I had separate bank accounts until the end of August; we then opened a joint account at a local credit union and closed the other accounts. My previous bank account (for the month of August) shows a large student aid refund from the university I attend; and a huge payoff of credit cards, collections, etc…It also shows access to a check advance account (through the bank); I know, stupid on my part. Here’s the dilemma—on November 1st; I’ll have a bank statement from the credit union (that is in pristine condition). Could not waiting 10 days to use this statement cost us the house? Major stressing here.

Starting Score: EQ 559 (June12)
TU 651 (spouse) (June12)
November12 score (Equifax myfico):
Me: 646
Spouse: 691
Getting ready to close on our first home Smiley Happy