Wednesday, February 15, 2017

What do mortgage lenders look for on bank statements?


My wife and I are getting a house and they want our bank statements. I know we have plenty of income and not a lot of reoccurring payments, no bounced checks, and no overdraft fees. However. My niece was using my wife's kindle and accessed one of those arcade type games where you can buy special tokens and she bought a lot over the course of the time she had the kindle, we use checkbooks so rarely look at our online bank statements. When we found this happened her mother is going to pay it all back in about a month. But will all these random charges hurt our chances of getting a loan when it has nothing to do with out debt to income ratio? Kind of like questioning our day to day purchases? Obviously our spending habits can be changed to match our lifestyle, so I want to know if they only look for our reoccurring monthly bills and income?

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