can some continue to purchase a home with a overdraft fee on their bank statement?

Question

i encountered an overdraft fee on my bank statement, but some company forgot to cancel a previous membership i had. the problem was resolved and all fees were refunded back to my account, but i still have the nsf and the refunds on my bank statement.

Answer 1

If you just have that one, and everything else on your credit report is clean, I think you should be fine.

Answer 2

You will be fine - take a deep breath - ok

If you have a concern, talk to your mortage broker, but it will not effect your loan, or the closing. The answers you have gotten are very good, just get a copy from your Bank, as proof if needed. That the fees were refunded to your account. This will not be on your credit report, so it will not show up, unless you are putting money down as a down payment, or need to show proof of seasoned funds for money needed at close. As I mentioned, you have the proof from the bank, if underwriting needs it.

Answer 3

What creditors care about is "Did your bills actually get paid on time?" as in no more than 29 days after due. Overdraft fees happen. I've never even seen one cause a problem, by itself. The only time they cause a problem is when the underlying debt payment is 30 days or more late.

Answer 4

One overdraft fee will not harm your chances for a home loan. Depending on your other qualifications, such as credit, income,and assets, the lender may not even ask to see your bank statements.

Rick Lanicek
www.primelendingonline.com

Answer 5

try to get the letter from the creditors you cancel the membership with or get to your bank and ask for print out of your last transactions, that include credit returned to you. don't forget to !

Answer 6

no. u have to sort out the OD