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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
    JM
    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
    moogle
    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
    AJ
    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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