Corrine Posted May 3, 2005 Report Posted May 3, 2005 Okay, here's the deal. Applied for the loan a few weeks ago. I was surprised to see our credit scores went up quite a bit. All our scores ranged between 620 and 670 with the exception of hubby's EX which was 528 (don't ask because I have no clue; the bank marked that score as NA). Our scores aren't the best but they have went up and we have no outstanding debts with a timely payment history on all bills for over a year now. Our income is $58k a year and we are building a house of total cost at $140k (the appraisal came out higher). We bought the land last year for $10k and we will be putting another $10k down, plus pay our own closing. My LO called Friday and said it was sent to the underwriter so I guess we'll get the news this week.I'm a little worried because they asked for our bank statements again. When I originally went in I had $18k in our savings (which is all for the house) but I gave them a new statement that only shows $17k. I'm afraid they will see the dip and not realize the money taken out was for the house. I paid the sewer tap on fee, appraisal and a downpayment for my appliances (I didn't include them in the loan and they are $5k). If they have concerns about our banking activity will they ask us first or will they just deny the loan? I told the LO about paying for these things but I don't think she would relay that information. Am I just being paranoid?
kevin3344 Posted May 3, 2005 Report Posted May 3, 2005 (edited) Relax. They realize you still have to live. They just want to make sure your account doesn't drop dramatically from a major expenditure, such as a new car for $15k (if you can even buy one for that amount nowadays). I provided my bank statements to my lender, then immediately went out and bought a new refrigerator for $1,400. Hey, you're going to need appliances if you're buying a new home, right? So I wouldn't consider $1,000 a dip.________Laguna Heights Condominium Edited September 9, 2011 by kevin3344
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