Article Score0

What does a loan officer or an underwriter look for in a borrowers bank statement? What will qualify my for a mortgage and what might disqualify me ( My credit above 620 according to FHA guidelines and income has been verified.)

1 Thought on HOME LOAN QUESTION FOR LOAN OFFICERS OUT THERE.?
  1. Reply
    dog ma
    February 12, 2014 at 7:35 am

    Your bank statement shows whether you have a consistency of income and outgo, whether you bounce checks, if you pay your current mortgage or rent on time. I had several borrowers who showed big debits to places like casinos and strip clubs – they were embarrassed about it, but that kind of thing is not likely to disqualify anyone. Don’t worry about it unless you have a history of being overdrawn. They are also looking to see if your bank statement shows any large deposits or withdrawals, and that the income you have and the monthly payments you show on your credit report are consistent with each other.

    Leave a reply

    Register New Account
    Reset Password