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Bank Statements and applying for mortgage

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Anonymous
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Re: Bank Statements and applying for mortgage

Bumped to say: I calculated our DTI wrong. It Is actually less than that. Also, we have the money to close/down payment. Will the low bank account be a problem? We should have everything paid off within the next two to three weeks so then our bank account will be picking back up. We are planning on purtting an offer in a house coming onto the market in a week or so. That is why I am worried about the last few bank statements being so low, which they will be able to tell what it has been used for but I am hoping they take that into account. Will this be a problem or am I worrying over nothing? 

Message 11 of 12
Anonymous
Not applicable

Re: Bank Statements and applying for mortgage

You will be fine. It doesn't matter what your account balance was the past few months. The only things they will be looking to see is if you have the money for the down payment and closing costs, if you have any large deposits other than payroll, and if your account has gone negative. If you need help with a pre-approval or just have questions let me know and I can help you out.
Message 12 of 12
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