[klinked]

I see that lenders ask for the last couple months bank statements. How weighted ar they in the decision process? What is the lender looking for? I have a couple overdrafts but I never paid attention to them cuz I have the protection where the money is just transferred in from my savings.


Mostly, my statements reflect payroll deposits..... alll my bills get paid, I skate around $0 and then I get paid again.


If I have my scores at or above 620 does my statements weigh in?

[Hedwig]

I don't know how much they weigh in, but I think they're looking for several things. One, they can see the steady income. Second, you're not supposed to borrow the down payment, and they might be looking for a big deposit for something like that. They probably also want to see if it looks like you can handle having a house, considering that there is some outlay for maintenance, etc. They want to see that you have deposits related to what you say your income is.

[FixinThings]

They are looking at net cash flow and the biggies that Hedwig pointed out.

Also, if you are doing a refi, they are also looking to verify your payments to your present mortgage holder.