Hello All,
So wife and I got a sizeable tax return, roughly 8k. We are currently renting and our landlord told us he was selling house and if we wanted to stay we could and he would have the buyers honor our lease or we could move on. We decided to look into buying a house. I got a pre-approval VA loan from Huntington and started shopping. We have found the house, offer accepted, paid earnest money and all is good. Maybe I am looking into this too much but I am worried about the seasoning. I had about 1200 in the account before the tax return, we just got married and we spent a big amount on our wedding and honeymoon so I am re-couping. I do make much more than the average 25-year-old (113k in Ohio), and deposited $1500 into the savings not too much later after the tax return with another 2k going into the savings this march. My worry however is that the 8k and 1500 have not sat in the bank account long enough and the underwriter will deny us the house loan. I didn't even know about source/seasoning until after all the offering phase etc.. when I decided to look into why a loan officer wants your bank statements. I guess what I am asking is, are we f'ed? Thanks for any help you guys can provide.
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source https://www.reddit.com/r/RealEstate/comments/fb4kvm/using_tax_return_to_buy_house_source_and/
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