Huge Expenses while mortgage pending

Huge Expenses while mortgage pendingHuge Expenses while mortgage pending
LizzieMer asked 3 years ago

I am pre-approved for a mortgage and am actively looking.  Lately, everything that can go wrong has gone wrong and I have loaned a family member $ 7500 and had air conditioner replacement and some other work done on current property which is a rental.  I am trying to figure out if these large expenditures are going to negatively impact my mortgage approval.  There has been no negative change in my credit report but I have gone from approximately $ 62,500.00 in my bank account to $ 47,500.00.   (I anticipate needing $ 37,500.00 for down payment and closing costs).

 

I intend to discuss with my lender but I wanted to get a feel for how big of an issue this is before I initiate the discussion.

 

Thank You for your assistance.   This forum is awesome!   I have enjoyed lurking for years but today I am forced to enter Smiley Happy.

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