Home Buying in Canton>Question Details

Kjrenchen, Home Buyer in Canton, OH

Im trying to purchase my 1st home and im worried that my husbands spending habits and our bank statments are going to be why we get denied. I just

Asked by Kjrenchen, Canton, OH Sat Oct 19, 2013

recently was able to go back to work and we've also had a few times where his check wasn't deposited on time and our checking accounts were overdrawn I know lenders request 2months statments but will our oveedrafts keep us from getting the loan? I know that we can afford the mortgage and im really upset over this.

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Be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously, therefore for a personalized answer to all your questions, you really should be consulting with any licensed loan officer; he/she can better advise after your overall financials are reviewed...
1 vote Thank Flag Link Sat Oct 19, 2013
You will want to talk with a good loan officer. They will be able to guide you in the right direction and take into consideration your entire situation. All avenues have to be looked at to know where you stand.
0 votes Thank Flag Link Mon Oct 21, 2013
Hi, your circumstance is something that we would definitely consider. If that's the only thing (NSF) then there's a small "maybe". However, you mention you're getting back to work. How long the gap of employment was will be considered if you're trying to use your income. Same for what line of work you were in versus what line of work you're in now. Also, credit will have a huge impact on the decision. If you have impeccable credit and an NSF or two that can be explained that would give you better odds than if your credit is blemished and you have the NSF. Finally, I would add, you could always wait a couple months and try again. best wishes kimberly lawson Ohio licensed mortgage loan originator. Contact and licensing information can be found on my profile. (please forgive any typos, responding using my cell)
0 votes Thank Flag Link Sat Oct 19, 2013
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