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Bank statements

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Melissa12 Guest	Posted: Fri Oct 21, 2011 1:07 am    Post subject: Bank statements Like 0 Dislike 0 Hello… Help me if you can. My lender wants 2 months of bank statements. Can I ask why? My checking account can get low sometimes. Will that go against me? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
Niicss Joined: 03 Oct 2005 Posts: 4834 Location: New Jersey 508.88 Dollars($)	Posted: Fri Oct 21, 2011 1:35 am    Post subject: Like 0 Dislike 0 The lender will want to check your last 2 months bank statement in order to find out whether or not you have a good amount of money saved in your account. This will help the lender believe that you will be able to make payments for at least 2 - 3 months after you've taken out the mortgage. If you have a lower amount in your checking account, then it may go after you. _________________ Good is the Enemy of Great.
sabrinatoss Community Expert Joined: 16 Jan 2011 Posts: 514 Location: Australia 82.40 Dollars($)	Posted: Sun Oct 23, 2011 9:04 pm    Post subject: Like 0 Dislike 0 Hello melissa, A record, usually sent to the account holder once per month, summarizing all transactions in an account during the time from the previous statement to the current statement. The opening balance from the prior month combined with the net of all transactions during the period should result in the closing balance for the current statement. _________________ Home Loan, Mortgage Insurance Calculator, Mortgage Broker

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