Will my FHA mortgage be turned down for overdrawn checking account?

Posted on Sep 25, 2012 in FHA Information

Question by Lady B: Why does only 1 person in my family believe Obama will give out Free Points to refinance their home?
Why does this 1 person believe Obama is going to give them and anyone 2 free points when they go to refinance?

BTW this is their 2nd home and they are not hurting for money?

This person is an Attorney.

Best answer:

Answer by v b
Because you have no idea what you are talking about.

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Question by Phil R: Will my FHA mortgage be turned down for overdrawn checking account?
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.

Best answer:

Answer by JM
nope, help 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!

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4avg.rating 17 votes.

3 Comments

  1. 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

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

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