Q&A: Mortgage loan HELP/advice!!!!?

Question by gizsmox: Mortgage loan HELP/advice!!!!?
I need advice or your thoughts. My wife and I are going through the underwriting process for our mortgage flop now. When the agent was getting the paperwork ready she wanted to us to have companies fax over 1 year of documented paperwork, and suggested Electricity bills and American family insurance bills. so that’s done, we are quieting waiting to hear, but upon googling the underwriting process, I read that the person doing the underwriting may come back and first give us a “conditions to close” meaning requirements for further documentation to support your file. Then if that looks well then we would get a “CLEAR to Close”. During the Conditions to close I am afraid of them asking for my bank statement, because I’ve had few overdrafts in the past two months. is this something I should be worried about?????? This whole housing hunting/paperwork filling process has been so stressfull. Any thought would be greatly appreciated. Thanks

Best answer:

Answer by C M
I was asked to provide an official statement, which intended it is signed and stamped by a bank official to authenticate. Usually, if you have some overdrafts, they will inquire you to explain each instance. Be sure and think of good reasons why you might have been late and be prepared. I have never seen a closing with out that requirment.

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