When prospective home buyers are applying for a loan most of the focus is on the credit scores and income but its a good idea to evaluate the health of your checking account beyond the available balance.

When Your Bank Accounts Will Be Reviewed

During loan processing the borrower will be asked to provide documentation to support information provided on the initial loan application. Once all the typical documents have been gathered, the loan will be sent to an underwriter. The underwriter is responsible for investor compliance and will conduct a thorough review of the loan documentation before granting loan approval, and it is here that bank accounts will be under the most scrutiny and more documentation may be requested via the processor.