Overdraft fees and FHA

[Anonymous]

Hi everyone! This is my first post on here and I’m not felling good about it. My husband and I just applied for an FHA loan and I am greatly concerned about the overdrafts on our bank account. It’s stupid stuff, something comes through the night before we get paid, causes an overdraft charge and then it’s covered the next morning. We haven’t had any in 60 days so it won’t show on our statements accept at the end of them in the YTD total. I have talked to my LO and she said I’ll need to write a LOE and not to be to concerned about it BUT I have read about people being denied for 2 much less 10 over the last year like we have had. My question is-
Has anyone been approved with FHA with an excessive amount of overdrafts?

[Anonymous]

I closed on 12/31/2019, just whenI felt all things where a go I got the dreaded second look and yesI had my 2nd OD for the year for $15 , it was simple fix but a headache non the less, I woukd suggest you start your Letter of Explanation now , just look over your statement and give a good reason , at the time of my OD planet fitness had charged me that unexpected annual fee and there was other charges that was similar like bjs wholesale with auto renew fees. As long as you can give reason from the last 2 statements you should be fine.Hope this helps.