We are ready to close on a house in a few days and just found out that we need two bank statements...?

Question

from the past. We don't have any bank statements at all as we both never had any accounts. Not sure what to do? We are so ready to close on this house and then this has to pop up. We just opened two accounts in our names last friday but that was last Friday. HELP?

I have already been pre-approved for this loan. I cashed my wrok checks at my uncles store. I have a mortgage broker and he said all the paper work was in and he did not need anything else from me other then to wait for the special care worker to call me with the closing date and what not. I always paid my bills on time and by money order or credit card. We are suppose to close on the house on the 27. Guess I will wait until morning and talk to my broker. I just don't like suprises more so when I asked already if everything was in he needed. I'll figure something out.

I said we did not have a bank account for many years and paid everything by money order. We do have both checking and saving now and YES we have the full closing money in it. Everything has been taken care of and is fine now. Closing on the 27 of July. Thanks anyways.

Answer 1

how will you pay closing costs, down payment with no money in a bank? How do you pay bills? if you have lied about your assets, get ready to lose this house. Banks don't finance people who have no way of paying.

Answer 2

First have you already been approved for fiance on the house? Second who is asking for the bank statements and third asking for bank statements is another way to show income, your ability to pay bills ie: checking account and having a savings account shows ability to save even if it is a dollar a month write back and answer my questions to you and I can better tell you what is going on and a solution to the problem
Bob

Answer 3

Run over to the bank and get them to print a cycle-to-date activity report, that will take less than a minute.

Were you strictly cash before and didn't use a bank? Mattress money is very hard to prove for a down payment. Where did it come from? A grant, loan from parents? You need to have another conversation with your loan officer or Realtor as the underwriter may need coaxing on this loan.

Answer 4

Call your mortgage broker or lender and ask them. Where did you keep your money? If you had brokerage accounts or CDs that might help. How did you cash your paychecks and pay your bills? If you were depositing your checks in someone else's account and having them write checks for you maybe you could use their bank statements.

Answer 5

no previous bank statement .... ever?
no saving or checking accounts................ever?


you need to tell this to your real estate agent