Please be aware of this loan killer if you are applying for a mortgage…
Watch out for Insufficient Funds Charges in your bank statement. …this is a potential deal killer for the underwriter.
If you have insufficient funds charges in your bank statement it signals to the underwriter that you are having a hard time managing your money.
If you currently have NSF charges – one possible solution is to ask your lender (hopefully me!) to replace your statements with a verification of deposit.
…otherwise you might want to wait and have 60 days of bank statements free from NSF charges.
Thanks for reading! …and have a good day!
Brett
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