FHA mortgage approval with negative transactions on bank account?
Any experienced mortgage professionals out there? I’m new and have a buyer who is just about to close on a home with a 30yr fixed loan. (FHA) Everything was fine until we requested updated bank statements. There are negative transactions in his account. He says it was a one time occurance. This file was manually underwritten for another issue. Do you all think we have to worry about the negative charges to her account if they are not habitual? Let me know as I just picked up the statements from him and would like to be prepared for the morning when I submit. Or should I just go ahead and set the customer’s expectations that he will not be buying a home with us?
good credit score, etc, personal funds..no gifts. Everything was great before this.