gh asked in Business & FinanceCredit · 6 years ago

fha bank statements and lenders?

I am in the process of getting a fha loan, I am tight on my debt to income ratio. and recently found out on of the credit cards i use does not report to the credit bureaus, but i have to submit a bank statement and the transaction showing my payment is on the statement on page 4. can they count that against me if it is not on my credit reports? or are they likely to look for it.

Update:

i had a typo it should read that one of the credit accounts i have does not show on my credit report and my debt to income ratio is tight.

1 Answer

Relevance
  • Anonymous
    6 years ago
    Favorite Answer

    Yes - The purpose of the bank statements is not just to show how much assets you have in the bank but also if you have any other obligations (such as your credit card bill) that doesn't show up on your credit report. The mortgage underwriter will ask you to document the terms and conditions of the loan / credit card debt. The quickest way is for your loan processor to get what is called a credit supplement and have that credit card added to your credit report - it won't affect your fico score but the credit company (that the lender uses) will call the credit card company and get the information the underwriter is asking for - just make sure you give the processor the correct name of the credit card company and the complete account number.

    Hope this helps - sorry the answere wasn't what you wanted to hear.

    Source(s): Mortgage underwriter for 27 years
    • Login to reply the answers
Still have questions? Get your answers by asking now.