Thursday, October 1, 2015
Is a overdraft protection draft from savings to checking a deal killer while mortgage is in underwriting?
My husband and are halfway thru the underwriting process and are getting ready to submit 2 months worth of bank statments and just yesterday a check cleared our bank that my husband forgot to tell me he wrote. Our overdraft protection kicked in and transfered the money over from the savings and I immediatly transfer it back in since I got paid the said day but it was still pending. Now today my bank statemnt shows a negative balance where before my overdraft kicked in and from where I transfered the money over before my pay covered it. I'm concerened that the underwriter will see this and deny us because of this. We haven't any any overdrafts or issues in over a year with well over 12 months of cleared rent checks to show we can cleary pay the bills and that this was just an oversite. If it helps, we are going VA with a manual underwrite since my husband credit score is just below the minimum.
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