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I have been approved for an FHA mortgage loan and have been asked for 2 months of bank statements. My concern is that my account was overdrawn a few weeks ago. It was the first time in at least a year and a half it has been overdrawn and was an honest mistake. Can they reverse my approval for this reason? Thank you.

4 Thoughts on Will my FHA mortgage be turned down for overdrawn checking account?
  1. Reply
    August 19, 2012 at 11:07 am

    nope, they will not. i actually had one (which i was so pissed at cuz a check cleared about 30 seconds before my direct deposit went in) and i was fine. i offered to show a year of statements to prove it was a fluke but they told me not to worry, they don’t hold 1 against you!

  2. Reply
    August 19, 2012 at 11:58 am

    i dont think so i mean alot of people accidently overdrawn
    as long as u pay the overdraft fee rightaway then everything should be ok

  3. Reply
    C M
    August 19, 2012 at 12:28 pm

    Usually they will take an explanation. If there are no other overdrafts, and if you keep good balances, then you should be ok.

  4. Reply
    August 19, 2012 at 12:38 pm

    Short Answer: Yes they can and in today’s financial climate, probably will reverse their approval and deny you the loan.

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