Be prepared to explain these in detail, should the lender see the overdrafts on your bank statement. Although they will not have an impact on your credit score, it becomes a concern to a lender as to whether or not you can successfully manage your cash flow. Explain the isolated large expenses and prepare a detailed budget (just in case) to show the lender that you can handle all of your financial obligations. This is especially important if you are a first time homebuyer, who is not familiar with all of the expensed involved in homeownership.
I wish you the best of luck. Please feel free to contact me if I can be of further assistance.
Jackie Pulcano, SVP
United Mortgage Corp