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Overdraws in checking account and mortgage

I have 2 overdraft alerts on my account from last year when I was struggling to pay some doctor bills wich are now all payed. Is this going to come up when I apply for a mortgage this year?
By robcoulier4621260 from MA Aug 20th 2014
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It can, depending on the type of loan you want to get.

Aug 20th 2014

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Most likely not. We offer a no cost or obligation preapproval that would be happy to check your information in your credit to make sure that you are all set

Aug 20th 2014

It does not show up when lenders use an automated underwriting ending like desktop originator or Loan Prospector. I can tell you that underwriters are schooled to look for these items on your bank statments. An OD can force a lender to "downgrade" your file from automated underwriting to manual underwriting and enforce stricter guidelines. It may not be a deal killer, but something that should absolutely be discussed.

Aug 20th 2014

Hi Rob. It will not show up during initial underwriting since it is automated. The underwriter will dig a bit for info but it should not be a deal breaker and you only need to show the most recent two months of bank info so should not be a factor. Call me or email me to discuss further. Rob Oliveira Province Mortgage Associates 508 802 0935

Aug 21st 2014


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