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FHA Loan Question. No Bank Account?

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Hello, 

I have been pre approved fha loan and we're not in the actual application process.  It's requesting bank statements but I have only recently opened a bank account. For the past 2 years I have had all of my pay checks direct deposited onto a prepaid money card.  Lot's of people do this.. My question is how will FHA view this?  I have heard that a bank account is not mandatory but it still begs to question how to document my payroll without using the landing point that they were deposited?

 

Please help.

Thank You

 

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FHA will want to see a bank statement. You may try getting a printout of the activity on your pre-paid card. that may also be acceptable. they really just want to see verification of the income and you stated that the pay checks are going directly into your pre-paid account. Try that first!

 

 

God Bless

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